Latest News | Niro Raises USD 11 Million
Get latest articles and stories on Latest News at LatestLY. Fintech Niro has raised USD 11 million (about Rs 90 crore) in a funding round through a mix of equity and debt from a clutch of investors.
Mumbai, Apr 26 (PTI) Fintech Niro has raised USD 11 million (about Rs 90 crore) in a funding round through a mix of equity and debt from a clutch of investors.
While the equity capital, raised in series A round, came in from Elevar Equity, GMO Venture Partners, Rebright Partners and Mitsui Sumitomo Insurance VC, among others, the debt capital was funded by Innoven Capital.
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Previously, the Bengaluru-based firm had raised USD 3.5 million in October 2021 from investors led by Elevar Equity in the seed funding round.
Niro, founded in 2021 by Aditya Kumar and Sankalp Mathur, enables e-commerce platforms to give credit to their consumers. Its partners include Snapdeal, Quikr, Housing.com.
Since its launch, it has disbursed over Rs 300 crore of loans across 200 cities and has a monthly origination run rate of over Rs 60 crore, it said in a statement on Wednesday.
The company aims to use the money to expand its partner footprint, product offerings, risk analytics capabilities and bolster technology, it said.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)