Niyogin Fintech Limited, a technology-led platform provider of collateral free credit to MSME’s announced its acquisition of 50.1% of equity share capital of Moneyfront. 

Moneyfront, a wholly owned subsidiary of InvestDirect Capital Services Pvt. Ltd. is an automated direct plan platform, helping clients invest in mutual funds and other fixed-income instruments.

The partnership between Niyogin and Moneyfront would drive long-term value for both the organisations as well as their shareholders. Niyogin is amongst the country’s few fully digital and paperless fintech platforms providing unsecured credit to small businesses leveraging a unique omni-channel ‘phygital’ approach. The partnership will help Moneyfront accelerate its growth by leveraging Niyogin’s distribution channel and state of the art technology platform while allowing Niyogin to take a significant step forward in building its knowledge and capabilities within the wealth solutions domain; this is in line with Niyogin’s vision of creating a value-based ecosystem in the very exciting fintech space leveraging the power of people, platform, processes and products.

Commenting on the announcement Amit Rajpal, Chairman and Co-Founder, Niyogin said, “We are excited to partner with Moneyfront where I believe that the combination of wealth solutions and talent which Moneyfront brings to the table will enable deepening of our existing client relationships while being value accretive to our shareholders.”

“We are delighted to enter into a strategic partnership with Niyogin which provides us the necessary capital for growth, adds to our technology & data prowess whilst providing us systematic access to Tier 2 & Tier 3 cities – all being key drivers for building a successful wealth business," said Mohit Gang, Co-Founder and CEO, Moneyfront.