Niro provides fixed lending solutions that enable consumer internet platforms to embed customised credit offerings to drive revenue growth. It has partnerships with Aditya Birla Capital, IDFC First Bank, Muthoot Finance, and PayU Finance to offer loans ranging from INR 50,000 to INR 7 lakh with disbursals within 24 hours. The startup says it has disbursed over INR 900 crore and maintains an outstanding loan book of INR 600 crore. In FY23 Niro recorded operating revenue of INR 9.5 crore and a net loss of INR 23.8 crore. Founded in 2021 and based in Bengaluru, Niro operates in a competitive market that includes KrediBee, MoneyTap, and BankBazaar. The company is considering increasing its current pre-Series B raise if it attracts additional investors. Niro is an embedded consumer-lending platform that enables consumer internet platforms to become providers of competitive, frictionless credit and other financial products. Founded in 2021 and based in Bangalore, it integrates with consumer internet companies such as Snapdeal, Quikr, and Housing.com. Since launching less than 16 months ago the company says it has seen rapid validation and partner-driven growth. Niro plans to use its Series A proceeds to expand its partner footprint, broaden product offerings, enhance risk analytics capabilities, and bolster its technology layer. The company closed a Series A totalling ₹90 crore ($11M) comprising $8.5M in equity and $2.5M in venture debt. Earlier, Niro raised a $3.5M seed round in October 2021 led by Elevar Equity.

Total raised

$15M

Funding rounds

3

Latest round

Series B

Latest activity

May 2024