Fintech startup NIRA raises $2.1 million in Pre-Series A funding; money to be used to add high quality talent to team, develop technology

Bengaluru: Bengaluru-based NIRA, a fintech startup offering small ticket loans to blue and grey collared workers, on Wednesday announced that it has closed a $2.1 million in Pre-Series A funding from existing and new angel investors in the UK, Europe, and India. [caption id=“attachment_4292949” align=“alignleft” width=“380”] Representational image. News 18.[/caption] 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 1 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.