Fintech startup NIRA, which offers small ticket loans to blue and grey collared workers through its mobile app and website, on Wednesday said it has closed $2.1 million in pre-series A funding from existing and new angel investors in UK, Europe, and India.
The startup plans to use the funds to hire new talent, develop its product and technology further and scale up its lending volumes.
“We’re delighted to move to the next phase of our journey with this new raise. 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, chief executive 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.”
Founded in 2018 by former Goldman Sachs executives Rohit Sen and Nupur Gupta, the Bengaluru-based firm has thousands of customers in over 100 cities across the country. The company presently offers loans of up to ₹1 lakh for up to a year through its app-based credit line.
