Founded in 2024 by Aditya Gupta, Sandeep Ghule, Anand Kapadia, and Manish Sinha, Novio issues RuPay credit cards backed by user fixed deposits. Users can open a fixed deposit through the app and receive a credit card within hours without income proof or credit checks, while the deposit continues to earn interest. Cards can be linked to UPI for payments and offer features such as rewards, travel benefits, and real-time redemption. Novio partners with banks including SBM Bank and DCB Bank to issue its cards. The company says it has crossed 1 lakh active cardholders within a year of launch and plans to issue 50 lakh cards over the next three years. It intends to use recent funding to expand distribution in tier II–V markets, strengthen bank partnerships, and build out UPI and AI-led credit advisory features.

Total raised

$11M

Funding rounds

2

Latest round

Series A

Latest activity

Apr 2026