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novio secures ₹100 crore in Series A funding to drive growth and support 50 lakh card issuances, bolstered by deepening bank partnerships and product development.

PRIVATEAug 20, 2026•about 5 hours ago

Amount Raised

₹1 Billion

Round Type

Series A

IndiaFinancial ServicesFinanceFintechLending

Description

novio, India's UPI-first fixed deposit credit card app, has announced a ₹100 crore Series A funding round. This investment aims to support the company's target of issuing 50 lakh cards over the next three years. The growth will be fueled by partnerships and product development. The leadership team has been realigned to strengthen the organization as it scales.

Company Information

Company

novio

Location

India

About

novio is India's UPI-first fixed deposit credit card app, powered by Credilio Financial Technologies. The company aims to make formal credit accessible to India's underserved borrowers by leveraging innovative product development and partnerships. With a focus on accountability and rapid execution, novio is poised for significant growth following its recent funding round.

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Funding Insights

Based on industry data
Typical timeline to Series B
Series A companies typically raise their next round in 10-18 months
Monthly burn rate benchmark
47% of Series A startups spend $400k or more per month on operations

novio raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.

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