Nira, a Bengaluru-based fintech startup offering small-ticket loans to blue and grey-collared workers via its mobile app and website, announced that it has raised a $2.1 million Pre-Series A funding from existing and new angel investors in the UK, Europe, and India.
The startup will utilise the funds to add high-quality talent to its team, further develop its product and technology, and scale up its lending volumes.
“This is our next phase of our journey. While we did get offers for funding from a couple of VCs, we decided to stick to our existing investors and take more time to find the right long-term partners” said Rohit Sen, CEO and Co-founder of NIRA. “In the last 12 months, we’ve found a good product-market fit, so now we want to build on this strong foundation to scale our business”.
Nira was founded in 2017 by ex-Goldman Sachs colleagues Rohit Sen and Nupur Gupta. It offers access and credit to working Indians at their time of need. The company offers loans of up to Rs 1 lakh for up to one year, via its app-based credit line.
Nira now operates pan-India with many thousands of customers from more than 100 cities across the country.
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