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Niyogin Fintech Limited (BSE: 538772), a publicly listed fintech platform, today announced its results for the second quarter and half year ended September 30, 2021.

Commenting on the Company’s performance, Amit Rajpal, Co-Founder, and Non-Executive Chairman, Niyogin Fintech Limited said, “We are excited by the Board’s decision to approve the hypergrowth business plan that entails an investment of upto INR 1 billion to create the most comprehensive financial inclusion platform offering in the market enabling the business to scale rapidly and build multiple-interlinkages with open architecture and in a modular format. Given our strong balance sheet, we can support such investments and this sets us up for exponential growth over the next 2 years.”

In addition, Tashwinder Singh, CEO, Niyogin Fintech Limited said, “Our business model has been validated with sustained operational and financial performance. We recorded an 18% sequential revenue growth as we crossed INR 20 billion in GTV this quarter. Our decision to invest incremental capital in the business will enable us to expand the addressable market and add multiple products to make this the most comprehensive fintech Infrastructure platform. This will be a holistic system for our partners, experienced as a standalone Application, API or SDK depending on their requirements.”

Key Highlights of Q2 FY2022

•  Total Consolidated Revenues at INR 259.9 million, up 230.5% YoY
• Debt free and net cash balance sheet. Cash and Equivalents at INR 1,714.3 million
• Rural-tech partners stood at 518, up 45.9% YoY
• Rural distribution touch points reached 198,593, up 199.9% YoY
• The number of partners on our urban channel increased by 43.0% YoY, to 4,636
• The gross transaction value (GTV) including payouts of Rural-Tech for the quarter was INR 21,003 million up 12.1% YoY^*
• Wealth Tech AUM grew to INR 18,244 million; up 120.7% YoY