novio Partners with Indian Overseas Bank to Roll Out Co-Branded RuPay Credit Card for First-Time Credit Users

Key facts

• Consumer credit platform novio, operated by Credilio Financial Technologies, has partnered with Indian Overseas Bank (IOB) to launch a co-branded RuPay credit card targeting UPI-active customers and first-time credit users.
• The card offers instant digital onboarding and an FD-backed credit facility, and will be available in two variants — RuPay Select and RuPay Platinum.
• The card was unveiled by IOB Executive Director Joydeep Dutta Roy and novio Founder & CEO Aditya Gupta at the Global Fintech Fest at the NPCI Pavilion.
• The IOB partnership follows novio's ₹100-crore Series A funding round led by Cornerstone Ventures, with venture debt raised from Innoven Capital and Alteria Capital.
• novio plans to issue 50 lakh credit cards over the next three years and expand formal credit access to customers in tier-V cities.