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Niyo acquires Kanji Forex, appoints Amit Talwar as CEO

EntrackrEntrackr · 2d ago
Niyo acquires Kanji Forex, appoints Amit Talwar as CEO
Medial

Niyo, a travel fintech platform focused on cross-border payments for outbound Indian travellers, has acquired Mumbai-based Kanji Forex through its parent company Finnew Solutions. The move aims to strengthen Niyo’s forex business and support its goal of building a comprehensive global banking platform. Alongside the acquisition, Niyo has appointed veteran banker Amit Talwar as CEO of Niyo Forex (Powered by Kanji Forex Pvt Ltd). Talwar brings over 27 years of banking experience, including leadership roles at IndusInd Bank and ICICI Bank group entities in India and the UK. Founded in 1935, Kanji Forex (Kanji Pitamber & Co.) was among the first to offer foreign currency options to Indian and global banks. Under Niyo, the brand will expand its physical presence across India and build B2B partnerships to deepen market reach. The acquisition enables Niyo to offer a full-stack forex portfolio, including FX cash, FX cards, and outward remittances under its AD Category 2 licence. The company will integrate Kanji’s offline strengths with Niyo’s digital-first platform to serve travellers, students, professionals, and other global citizens. Backed by investors with over $179 million in funding, Niyo operates across 20 states and serves more than two million customers. The company says this move accelerates its plan to provide transparent pricing, intuitive digital products, and nationwide accessibility in international banking.

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Former Zetwerk employees’ startup Sanlayan acquires Dexcel Electronics

EntrackrEntrackr · 6m ago
Former Zetwerk employees’ startup Sanlayan acquires Dexcel Electronics
Medial

Sanlayan Technologies, a strategic electronics startup, has acquired a majority stake in Dexcel Electronics, a 20-year-old embedded systems company. This acquisition will strengthen Sanlayan’s ability to deliver advanced indigenous solutions that support national security and drive technological innovation in critical sectors such as defense, aerospace and space. Founded by former Zetwerk employees Abhijit Kothawale, Rohan Gala, and Rahul Vamsidhar, Sanlayan raised $4.4 million in its seed round last year from prominent institutional investors, including Gemba Capital, Singularity Ventures, and others. Dexcel has contributed to major defence and space projects, including Jaguar and Sukhoi aircraft upgrades and ISRO’s Chandrayaan-3 and Aditya-L1 missions. “Joining forces with Sanlayan represents a transformative step for Dexcel. This partnership will manifold our R&D investments, enabling us to deliver impactful solutions to our customers,” said Amit Kumar Sinha, CEO & Managing Director of Dexcel Electronics Designs. Rohan Gala, CEO of Sanlayan, said the investment in Dexcel will scale its core capabilities to address challenges in embedded electronic systems. Sanlayan and Dexcel will showcase their innovations at Aero India 2025 from February 10 to 14.

PhysicsWallah appoints former Blinkit executive as CFO

EntrackrEntrackr · 8m ago
PhysicsWallah appoints former Blinkit executive as CFO
Medial

Edtech unicorn Physics Wallah (PW) has appointed former Blinkit executive Amit Sachdeva as its new chief finance officer (CFO). Sachdeva will lead the strategic and financial initiatives at the company, the appointment will also plant to ramp up its financial oversight and sustainable growth. Sachdeva has more than two decades of experience and has worked for multiple companies, including IGT Solutions and Wipro. “Amit’s experience in financial leadership and his focus on robust corporate governance will be invaluable as we continue our efforts to grow and broaden our educational impact. His approach to finance as a transformative tool aligns with PW’s goals,” said Alakh Pandey, CEO of Physics Wallah. Initially launched as a YouTube channel in 2014, Physics Wallah claims to offer free education to over 4.6 crore (46 million) students through its more than 112 YouTube channels in five vernacular languages. It has 5.5 million paid students. In September, Physics Wallah (PW) raised $210 million in a Series B funding round led by Hornbill Capital. According to data intelligence platform TheKredible, the company’s revenue from operations surged to Rs 1,940.4 crore in FY24, compared to Rs 744.3 crore in FY23.

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