NIRA, a Bengaluru-based fintech firm has raised an additional $1 million from existing angel investors. This round takes the total funds raised by the startup to over $4 million so far.
The tech firm has previously also raised an undisclosed follow-on sum from Techstars, a US seed accelerator as a part of the 2019 accelerator’s programme.
The startup seeks to expand its lending volumes while also strengthening its technology with the use of the raised funds.
Co-founder and chief executive at NIRA – Rohit Sen, said – “We have had robust growth in the last few months and are already at 400% of our pre-Covid volumes. This extra funding will allow us to further invest in our technology, analytics, and strengthen our team as we build for scale.”
The tech startup offers small-ticket loans to blue and grey collared workers of up to Rs 1 lakh for up to one year through its app-based credit line. It was launched in 2018 by finance professionals Rohit Sen and Nupur Gupta and operates pan-India with customers across 100 cities.
–AK
