Niyogin Fintech rises GTV rises by 90% YoY in Q4 FY24; AUM at Rs 179 crore

The GTV is lower by 2% as compared with the figure of Rs 11,258.8 crore posted in Q3 FY24.

The number of transactions handled by the company in Q4 FY24 added up to 3 crore, up 1.4% YoY but down 28% QoQ.

Niyogin?s AUM as on 31 March 2024 stood at Rs 179 crore, up 95% YoY and up 13% QoQ.

The company?s GTV for FY2024 was Rs 43,748.5 crore, up by 192% from Rs 14,994.3 crore recorded in FY2023. Number of transactions handled in FY2024 were 14.8 crore as against 3.8 crore in FY2023.

Niyogin Fintech caters to India?s underserved MSMEs and is a B2B company that operates on a tech centric platform-based model, wherein it delivers ?banking as a service? or BaaS platforms and credit in both rural and urban India through a partnership-led strategy. Niyogin ties up with business correspondents, banks and neobanks/fintechs to offer BaaS platforms, while it provides credit and other financial services through its financial professional network (or chartered accountants).

The company had reported a net loss of Rs 3.12 crore in the quarter ended December 2023 as against net loss of Rs 5.38 crore during the previous quarter ended December 2022. Sales rose 115% to Rs 53.60 crore in Q3 FY24 as against Rs 24.93 crore in Q3 FY23.

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