Niyo To Acquire Capital India’s RemitX Forex Business For ₹11.4 Cr

Fintech soonicorn Niyo has signed a definitive agreement to acquire the forex and cross-border payments business of listed financial services company Capital India Finance, operated under the RemitX brand, for ₹11.4 Cr. The transaction will be undertaken through Niyo’s wholly owned subsidiary Kanji Forex Pvt Ltd, which operates under an RBI Authorised Dealer Category-II (AD-II) licence. Capital India Finance’s board yesterday approved the transfer of assets related to RemitX to Kanji Forex.