Novio
Novio is the consumer brand of Credilio Financial Technologies, a Mumbai-based fintech offering fixed-deposit-backed RuPay credit cards, UPI payments, and credit advisory to first-time credit users in Tier II-V cities across India.
- Company typePrivate
- Founded2024
- HeadquartersMumbai, India
- Headcount101–250
- GTM typeB2B and B2C
- OfferingServices
What Novio does
Novio is the consumer-facing brand of Credilio Financial Technologies Private Limited, a Mumbai-based private fintech company incorporated in 2020 (CIN U72900MH2020PTC342791) that launched the Novio product in 2024. Novio operates a mobile-first platform that delivers fixed-deposit-backed RuPay credit cards to first-time credit users in Tier II-V cities across India, with cards issued through co-branded partnerships with SBM Bank, DCB Bank and YES Bank against Fixed Deposits starting at Rs 2,000. The platform is licensed by NPCI as a Third-Party Application Provider for UPI (operating through DCB Bank as sponsor PSP bank) and is PCI DSS compliant and ISO 27001 certified, enabling it to offer novio UPI payments, FD-backed credit, and a credit-profile advisory service (novio Score) within a single app.
The underlying technology stack combines a proprietary Credit Bureau-based recommendation engine with integrations to Indian Credit Information Companies, the RuPay card network, and three issuing banks. The wider Credilio platform extends beyond the consumer app into B2B distribution: Credilio Pro serves a 3,000+ DSA / 1L+ financial advisor network selling credit products from 25+ lenders, and Credilio Play offers a 150+ API, 100+ integration white-label platform that lets fintechs, insurtechs, wealthtechs and eCommerce aggregators embed credit card and personal-loan offerings into their own products with go-to-market in as little as two days.
Novio monetizes primarily through card-issuance and personal-loan distribution commissions earned from 25+ partner banks and NBFCs, supplemented by B2B API and white-label platform fees from Credilio Play, and a nascent per-booking convenience fee on the 'Travel with novio' travel vertical powered by OnArrival Travel Technology. The company reported FY26 revenue of Rs 100 crore (up 21% YoY) with losses flat at Rs 18 crore, employs 101-250 people, and is targeting 50 lakh active cardholders over the next three years. Leadership is founder-led by Aditya Gupta (CEO, ex-TranServ/HSBC/ICICI/Maruti Suzuki) and Sandeep Ghule (Co-Founder, ex-ICICI/HSBC/Indiabulls), with senior operating depth from ex-McKinsey, PwC, Equifax, Dun & Bradstreet and Sterling Check alumni.
Novio firmographics
Firmographics- Name
- Novio
- Legal name
- Credilio Financial Technologies Private Limited
- Website
- https://novio.in
- Company type
- Private
- Founded year
- 2024
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Novio is the consumer brand of Credilio Financial Technologies, a Mumbai-based fintech offering fixed-deposit-backed RuPay credit cards, UPI payments, and credit advisory to first-time credit users in Tier II-V cities across India.
- Ownership category
- akta.pro rank
Novio industry classification
Industry- Product category
- Consumer Credit Cards (Fixed-Deposit-Backed)
- NAICS
- Securities and Commodity Exchanges (523210)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Personalization, Testing & Conversion Rate Optimization (CRO) (BPAFAFAG)
Keywords
Where Novio is headquartered
LocationHeadquarters
- HQ city
- Mumbai
- HQ country
- India
- HQ region
- Asia
Offices1 record
Markets served
Novio business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Revenue model
- Card distribution commissions from banks/NBFCs: Credilio/Novio acts as an authorized distributor of 25+ banks and NBFCs for the distribution of credit cards and personal loans; the company earns referral/distribution commissions on every card issued through its platform (consumer app, Credilio Pro DSA network, Credilio Play API).
- API/platform fees from Credilio Play fintech partners: B2B revenue from white-label API access for fintechs, insurtechs, wealthtechs and eCommerce aggregators embedding credit products on their own platforms.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Pay-as-you-go | Lifetime Free RuPay Credit Cards backed by Fixed Deposit starting at ₹2,000 |
| Transaction based/ take rate | Pay-as-you-go | Travel with novio — per Booking Convenience Fee |
| Freemium | Pay-as-you-go | novio UPI — Free to use |
Go-to-market motion5 records
Distribution channels6 records
Marketing channels7 records
Novio product offering
Product offeringCore offering
Novio is a digital financial platform that issues fixed-deposit-backed RuPay credit cards (SBM novio Select, DCB novio Go, DCB novio Prime, YES BANK ACE) starting at ₹2,000 FD with no income proof or credit score required, paired with an NPCI-licensed UPI payment service (novio UPI) and a credit score advisory service (novio Score). The company also runs Credilio Pro (a B2B DSA platform for 3,000+ financial advisors) and Credilio Play (a 150+ API whitelabel credit distribution platform across 25+ lenders), plus a Travel with novio booking vertical powered by OnArrival.
Product overview
Novio is the consumer-facing fintech brand owned and operated by Credilio Financial Technologies Private Limited, offering a unified mobile-first platform centered on making credit accessible for underserved Indian consumers, particularly in Tier II-V cities. The core offering consists of three integrated pillars: (1) novio Credit Cards — fixed-deposit-backed RuPay credit cards issued through three banking partners (SBM Bank, DCB Bank, YES Bank) with no credit score or income proof required; (2) novio UPI — an NPCI-approved TPAP UPI payment service operating through DCB Bank as PSP bank that delivers 5% novio coins rewards (or 10% when combined with novio credit card); and (3) novio Score — a credit profile analysis and improvement service. Supporting modules include the novio Rewards Program (novio coins loyalty), Travel with novio (travel booking powered by OnArrival), and referral programs. The brand sits atop a broader Credilio platform that also includes B2B offerings: Credilio Pro (DSA platform for financial advisors) and Credilio Play (whitelabel API stack for fintechs to embed credit products from 25+ lenders), creating an end-to-end credit distribution, issuance, and advisory ecosystem.
Differentiator
Problem solved
Functional benefit
Brands
- Credilio Pro: Integrated digital platform for DSAs and financial advisors to sell credit cards and personal loans across 25+ lenders in India
- Credilio Play
Products and services
- SBM novio Select Credit Card FD-backed lifetime-free RuPay credit card issued by SBM Bank starting at ₹2,000 FD with virtual card issuance, physical card unlocked at ₹10,000 FD, flexible credit limit (90% of FD), and 10% novio coins on UPI/online/offline spends. Designed for first-time credit users and underserved Indian consumers.
- DCB novio Go & DCB novio Prime Credit Cards Two FD-backed RuPay credit card variants issued by DCB Bank: DCB novio Go (entry-level at ₹2,000 FD) and DCB novio Prime (premium at ₹25,000 FD with airport lounge access and welcome benefits worth ₹5,000). Targeted at underserved Indian consumers seeking entry-level and premium credit card options.
- YES BANK ACE RuPay Credit Card Lifetime-free RuPay credit card issued by YES Bank and distributed via Novio, offering reward points on spends, fuel surcharge waiver, forex benefit, and instant/post-purchase EMI conversion features (6-36 months, 11.99%-30% interest). Targets frequent travelers and finance professionals.
- novio UPI NPCI-licensed Third-Party Application Provider (TPAP) UPI payment service operated through DCB Bank as PSP, enabling instant UPI payments with 5% novio coins on every UPI payment (10% when paying with novio RuPay credit card via novio UPI). Supports UPI Lite on-device wallet. Available to all Indian consumers via the novio App.
- novio Score Credit score analysis and advisory service that pulls credit data from Indian Credit Information Companies, identifies strong and weak credit factors, and provides personalized video guidance to help users reach a 750+ credit score and qualify for lower interest rates and higher loan amounts. Free for Indian consumers via the novio App.
- Credilio Pro B2B platform that enables Direct Selling Agents (DSAs) and financial advisors to digitally source, manage, and sell credit cards and personal loans from 25+ lenders via a mobile app and web console. Includes a proprietary Credit Bureau-based recommendation engine, training, ready-to-use CRM, and real-time decisioning. Used by 3,000+ DSAs and 1 lakh+ advisors with 10 lakh+ cards issued cumulatively.
- Credilio Play Whitelabel API platform for fintechs, insurtechs, wealthtechs, and eCommerce aggregators to integrate credit card and personal loan offerings from 25+ lenders into their own products. Exposes 150+ APIs with 100+ integrations, real-time status updates, abandoned-cart nudges, ready-to-use CRM, and a Credit Bureau-based recommendation engine. Enables partners to go to market in as little as 2 days.
- Travel with novio Consumer travel booking service for flights, hotels, buses, trains, holiday packages, visa services, and travel insurance, powered by OnArrival Travel Technology Pvt. Ltd. as IATA-accredited merchant of record. Supports novio Coins redemption and novio card-linked benefits. Terms effective 1 May 2026.
Companies that use Novio
Customer profileNamed customers10 records
Ideal customer profiles3 records
Novio technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration15 records
AI capability10 records
Feature7 records
Novio partnerships and signals
Strategic signalPartnerships
15 partnerships are on record, tiered flagship, core and minor.
- SBM BankflagshipCo-branded 'SBM novio Select' RuPay credit card issued by SBM Bank against Fixed Deposit starting ₹2,000; FD insured up to ₹5 lakh by RBI; lifetime free with up to 7% FD interest, 10% novio coins, ₹5,000 welcome benefits and ₹23,000 brand discounts. SBM Bank is one of three core issuing bank partners.
- DCB BankflagshipCo-branded 'DCB novio Go' (min ₹2,000 FD) and 'DCB novio Prime' (min ₹25,000 FD) RuPay credit cards with airport lounge access and ₹5,000 welcome benefits on Prime. DCB Bank is also the Payment Service Provider (PSP) bank powering novio UPI and an FD-issuing partner.
- YES BankflagshipCo-branded 'YES BANK ACE' lifetime-free RuPay credit card with fuel surcharge waiver, forex benefit and EMI conversion (instant/post-purchase/quick loan). YES Bank is also listed as a top financial institution on Credilio Pro.
- NPCI (National Payments Corporation of India)coreNovio is an NPCI-licensed Third-Party Application Provider (TPAP) authorized to facilitate UPI payments through its sponsor PSP bank (DCB Bank). Novio UPI is built on NPCI's UPI architecture and integrates with NPCI's UPI Number Mapper for default UPI ID mapping.
- RuPay (NPCI)coreRuPay is the card network powering all novio co-branded credit cards (SBM novio, DCB novio, YES Bank ACE). Novio offers 'guaranteed RuPay Credit Card' benefits including exclusive RuPay domestic offers across brands like MaxFashion, Lifestyle, MakeMyTrip, Yatra, Dell, Boat etc.
- OnArrival Travel Technology Pvt. Ltd.coreIATA-accredited travel technology and fulfilment partner powering 'Travel with novio'. OnArrival is the merchant of record for all Bookings, handling inventory access, ticketing, payment processing as merchant of record, supplier settlement and back-office operations. Listed as an express third-party beneficiary of the Travel with novio terms.
- Axis BankcoreListed as a Top Financial Institution on the Credilio Pro platform — Axis Bank credit cards and personal loans are distributed via the Credilio/Novio DSA and API channels.
- Bajaj FinservcoreListed as a Top Financial Institution on the Credilio Pro platform — Bajaj Finserv credit products are distributed via the Credilio/Novio DSA and API channels.
- PaySenseminorListed as a Top Financial Institution on the Credilio Pro platform — PaySense personal loans are distributed via the Credilio/Novio DSA and API channels.
- HDFC (Bank)coreListed as a Top Financial Institution on the Credilio Pro platform — HDFC credit products are distributed via the Credilio/Novio channels.
- Kotak (Mahindra Bank)coreListed as a Top Financial Institution on the Credilio Pro platform — Kotak credit products are distributed via the Credilio/Novio channels.
- BookMyShowminorPromotional partner offering Buy 1 Get 1 Free (up to ₹250) on Movies or Non-Movies for novio credit card holders — minimum booking ₹500, available once per card per month.
- Amazon (India)minorPromotional partner offering up to ₹1,000 instant discount on eligible categories (Mobiles, TV, Appliances, Fashion, Electronics, Home, Kitchen, Furniture) for novio credit card holders; tiered discount structure starting at ₹100 off on ₹2,000.
- ZeptominorPromotional partner offering up to ₹150 off (₹50 off on ₹499 or above, up to 3 times per customer per month) on novio app with novio Credit Card; valid till 30 June 2026.
- SwiggyminorPromotional partner offering 20% off (up to ₹100 off on minimum order ₹499) using code NOVIO100, applicable once per month on food delivery orders for novio cardholders.
Scale indicators12 records
Recent moves6 records
Expansion highlights6 records
Novio competitors and assessment
Company assessmentDirect peers
- Slice: Indian consumer fintech offering credit cards and pay-later products targeted at young, first-time credit users — directly comparable to Novio's FD-backed RuPay card targeting the same underserved segment.
- OneCard: Mobile-first metal credit card issuer in India partnering with banks (e.g., Federal Bank) to issue Visa/Mastercard credit cards; competes with Novio for first-time and Tier II-V credit card customers.
- Uni Cards: Credit card fintech in India targeting young professionals with co-branded Visa/Mastercard products; similar D2C, app-first onboarding model and Tier II focus as Novio.
- Jupiter: India neobank offering digital banking, payments and credit products through a mobile app; comparable to Novio in mobile-first consumer fintech, UPI-led engagement and embedded credit distribution.
- Setu: India-based fintech API platform enabling banks, NBFCs and fintechs to embed financial products — directly comparable to Credilio Play's whitelabel API stack for credit distribution.
- Decentro: API infrastructure provider for fintechs and banks in India offering collections, payouts, KYC and lending APIs — overlaps with Credilio Play's API distribution model for credit products.
- FinBox: Embedded credit and lending infrastructure provider in India enabling digital lending experiences for fintechs and platforms — a comparable B2B credit-distribution API play to Credilio Play.
Broad incumbents
- Paisabazaar: India's largest credit product marketplace, distributing credit cards and loans across 50+ bank/NBFC partners via a DSA/affiliate network — broader scale analog to Credilio Pro's distribution motion.
- Perfios: Established credit decisioning and analytics platform for banks, NBFCs and fintechs in India; comparable to Credilio's bureau-based recommendation engine, but at significantly larger incumbent scale.
Emerging players
- Niyo: Digital banking and salary-account fintech in India with co-branded products and travel offerings — overlapping with Novio's consumer banking + travel vertical strategy but a different product anchor.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Novio social profiles
Digital presenceNovio compliance and trust
Trust signalCompliance2 records
Novio financial estimates
Financial estimateRevenue estimate
Valuation estimate
Novio leadership team
Management profileNumber of profiles
Profiles9 records
Novio subsidiaries and ownership
Company hierarchySubsidiaries1 record
Novio funding detail
Funding detailFunding overview
Funding rounds3 records
Investors8 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Novio M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Novio
What does Novio do?
Novio is a digital financial platform that issues fixed-deposit-backed RuPay credit cards (SBM novio Select, DCB novio Go, DCB novio Prime, YES BANK ACE) starting at ₹2,000 FD with no income proof or credit score required, paired with an NPCI-licensed UPI payment service (novio UPI) and a credit score advisory service (novio Score). The company also runs Credilio Pro (a B2B DSA platform for 3,000+ financial advisors) and Credilio Play (a 150+ API whitelabel credit distribution platform across 25+ lenders), plus a Travel with novio booking vertical powered by OnArrival.
Is Novio a public or private company?
Novio is a private company. It is classified as venture growth investor backed and is currently operating.
When was Novio founded?
Novio was founded in 2024. It employs 101 to 250 people.
Where is Novio based?
Novio is headquartered in Mumbai, India, in the Asia region.
How does Novio make money?
Two revenue lines are on record. Card distribution commissions from banks/NBFCs are the primary driver. The others are API/platform fees from Credilio Play fintech partners.
Who are Novio's main competitors?
Direct peers on record are Slice, OneCard, Uni Cards, Jupiter, Setu, Decentro and FinBox. Broad incumbents are Paisabazaar and Perfios. Niyo is listed as an emerging player.
Does Novio have an API?
Yes. Credilio Play offers an API Stack enabling fintechs, financial product distributors, insurtechs, wealthtechs, and eCommerce aggregators to add credit cards and personal loans from 25+ lenders to their product basket. It provides a whitelabel solution with real-time integration into leading Indian banks, a proprietary Credit Bureau-based recommendation engine, ready-to-use CRM, and supports both customer-facing and distributor-facing platforms. Enables go-to-market in as little as 2 days with 100+ integrations and includes real-time status updates, abandoned cart nudges, and transparent non-eligibility reasons. Developer documentation is at www.novio.in/credilio-play.
What industry is Novio in?
Novio's product category is Consumer Credit Cards (Fixed-Deposit-Backed). Its primary akta.pro industry code is BPAFAFAG, Personalization, Testing & Conversion Rate Optimization (CRO). Its NAICS code is 523210 and its SIC code is 6199.