Mumbai. Fintech startup NIRA, which gives small ticket loans to blue and gray collared staff by means of its cellular app and web site, on Wednesday mentioned it has closed $2.1 million in pre-series A funding from current and new angel buyers in UK, Europe, and India.
The startup plans to make use of the funds to rent new expertise, develop its product and expertise additional and scale up its lending volumes.
“We’re delighted to maneuver to the subsequent part of our journey with this new elevate. Whereas we did get gives for funding from a few VCs, we determined to stay to our current buyers and take extra time to seek out the appropriate long-term companions” mentioned Rohit Sen, chief government and co-founder of NIRA.
“Within the final 12 months, we’ve discovered a superb product-market match, so now we wish to construct on this sturdy basis to scale our enterprise.”
Based in 2018 by former Goldman Sachs executives Rohit Sen and Nupur Gupta, the Bengaluru-based agency has hundreds of consumers in over 100 cities throughout the nation. The corporate presently gives loans of as much as ₹1 lakh for as much as a yr by means of its app-based credit score line.