Fintech startup NIRA, which provides blue and gray collared employees small-ticket credit through its smartphone and website, said it closed $2.1 million in the pre-series A funding from current and new Angel investors in the United Kingdom, Europe, and India on Wednesday.
The company aims to use the funding to attract new talent, further grow its product and technology, and increasing the number of its loans.
“We are ready to push with this new increase to the next step of our journey. Though we received funding proposals from a few VCs, we chose to remain with our existing investment companies and take longer to find the right long-term partners,” said NIRA Chief Executive Officer and co-founder Rohit Sen.
“We have found a good product-market match in the last 12 months, so now we want to build on this strong foundation to scale our business.”
Established in 2018 by former managers Rohit Sen and Nupur Gupta from Goldman Sachs, the Bengaluru-based business employs thousands of clients in more than 100 cities throughout the world. The company currently provides up to one year of loans through its app-based credit line.