Fintech startup NIRA raises USD 2.1 million in Pre-Series A funding

Bengaluru, Apr 29 (PTI): Bengaluru-based NIRA, a fintech startup offering small ticket loans to blue and grey collared workers, on Wednesday announced that it has closed a USD 2.1 million in Pre-Series A funding from existing and new angel investors in the UK, Europe, and India. The funding will be used to add high quality talent to its team, further develop its product and technology, and scale up its lending volumes, it said in a statement.

Co-founded by finance professionals Rohit Sen and Nupur Gupta, NIRA offers loans to working class Indians of up to Rs. one lakh for up to one year, via its app-based credit line.

Rohit Sen said: 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. Launched in mid-2018, NIRA is now operating pan-India with many thousands of customers from more than 100 cities, it was stated.