← Latest news 
Credilio raises ₹100 crore to scale FD backed UPI credit card app novio for credit invisible users
Startups
Published on 28 April 2026
Cards start only after a ₹10,000 FD
Fintech Credilio has raised ₹100 crore in Series A to expand its UPI-first fixed deposit credit card app, novio. Launched in 2024, it targets underserved “credit invisible” users via FD-backed cards linked to UPI, offering rewards with brands like Swiggy and Flipkart. Credilio plans to scale to 5 lakh users across Tier II to V cities and later launch unsecured cards with YES Bank.
- Credilio secured ₹100 crore Series A to scale novio
- FD backed UPI credit cards target credit invisible borrowers
- Physical cards unlock only for FDs above ₹10,000
- Next: unsecured card plans with YES Bank and EMI rollout
Read the full story at Inc42
This summarization was done by Beige for a story published on 
Inc42