Niyo buys Kanji Forex, appoints Amit Talwar to lead expanded foreign exchange unit

Niyo, a travel fintech platform specializing in cross-border payments for outbound Indian travelers, has acquired Mumbai-based Kanji Forex through its parent company, Finnew Solutions.

The company has appointed veteran banker Amit Talwar as CEO of its forex business, which will operate as Niyo Forex.

Through its parent company Finnew Solutions, Niyo’s acquisition of Kanji Forex will allow it to offer a full suite of forex services—cash, cards, and outward remittances.

Read also- Medtech startup Cureous Labs raises Rs 1.66 Cr in seed round led by IPV

The company also plans to expand Kanji Forex’s branch network across India and pursue strategic B2B partnerships to boost market reach.

“At Niyo, we have been pioneers in democratising cross-border card solutions,” said Vinay Bagri, co founder and CEO of Niyo. “The acquisition of Kanji Forex is a pivotal step in our journey to offer a full suite global banking platform. Amit’s deep banking and cross-border payments expertise with proven leadership skills make him the ideal choice to lead our forex business into becoming the market and category leader.”

About Kanji Forex

Founded in 1935 and also known as Kanji Pitamber & Co, Kanji Forex has been a key player in India’s forex ecosystem and one of the first to offer foreign currency services to Indian and international banks.
Amit Talwar, who now leads the forex unit, brings over 27 years of experience in transaction banking, global remittances, and unsecured lending. 

Advertisment

Previously, he was Executive Vice President and Head of Transaction Banking at IndusInd Bank, where he scaled international remittance corridors, implemented blockchain solutions, and launched new cash management products. He also spent nearly nine years with ICICI Bank group entities in India and the UK.

“With Kanji now part of the Niyo family, Niyo Forex is uniquely positioned to offer integrated forex solutions across digital and physical touchpoints,” Talwar said. “I am excited to lead this next phase of growth, which will focus on branch expansion, product innovation, and partnerships to serve India’s growing global citizens.”

About Niyo 

Founded in 2015, Niyo serves over two million outbound Indian travelers, offering zero-forex-markup cards, forex cash, remittance services, and travel bookings. The company has raised over $179 million from investors and operates with a 500-member team across 20 states.