Niyo rolls out salary hikes, bonuses, ESOPs to employees

BENGALURU: In an effort to boost employee morale and support them during the pandemic, fintech company Niyo is offering 10-12% salary hikes, bonuses and ESOPs, taking the total stock grants to over Rs 100 crore for all eligible employees.

The salary increment and bonuses will be credited to the employees’ accounts by the end of this month. Niyo is also doubling the size of its technology and product teams by the end of March 2021.

“Rewarding our employees for their patience and hard work is our humble way of supporting them in these challenging times and showing them that we care. We strongly believe that if employees have a feeling of ownership, they can make a significant contribution to our vision of providing great customer value and experience. While the last four months have been difficult for us, all our teams have been putting in their best efforts to contribute to Niyo’s continued success and realising its long-term vision,” said Niyo co-founder and CTO Virender Bisht.

Niyo has also rolled out several initiatives to ensure the physical and mental well-being of its employees.

The company recently hosted Home-a-thon, a virtual hackathon event, to encourage employees to make the most of the lockdown and focus on innovations in product, design and technology. The fintech firm recently announced the acquisition of Goalwise, a new-age mutual funds platform, to launch a vertical under the brand name ‘Niyo Wealth’, which would be headed by the founders of Goalwise. Niyo Wealth will offer robo advisory, auto investments, and domestic and international stocks by the end of September.

The company is backed by Social+Capital, JS Capital and Prime Venture Partners, and has raised about $49 million in funding so far. It operates out of corporate offices in Bengaluru, Mumbai and Delhi, and employs around 1,000 people.

Niyo rolls out salary hikes, bonuses, ESOPs to employees Niyo rolls out salary hikes, bonuses, ESOPs to employees Reviewed by TechCO on 7/30/2020 Rating: 5

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