Niro
Category: AI in Fintech
An embedded finance platform enabling consumer internet companies to offer customized credit products to their users. Niro was founded in 2021. The company is led by Aditya Kumar. Based in Bengaluru, India. Team size: 50-100. Total funding raised: $20 million. Latest round: Pre-Series B, $4.3M, 2024-05, led by Marui Group. Key investors include Elevar Equity, Marui Group, GMO Venture Partners, Rebright Partners, Kunal Shah.
- Founded
- 2021
- Headquarters
- Bengaluru, India
- Team size
- 50-100
- Total funding
- $20 million
Value proposition
To empower consumer internet platforms to offer competitive and frictionless credit products to their customers, thereby increasing revenue and user engagement without needing to build the financial infrastructure themselves.
Products and solutions
Embedded personal loans, Customized credit solutions, APIs and SDKs for seamless integration of financial products
Unique value
Niro's uniqueness lay in its embedded finance model, which allowed non-financial platforms to seamlessly integrate white-labeled credit products. They utilized data enrichment and analysis to offer tailored financial solutions within the partner's ecosystem, handling the complexities of underwriting, customer identification, and product design.
Target customer
Consumer-facing internet platforms and B2C startups looking to embed financial services.
Industries served
E-commerce, Real Estate, Social Media
Technology advantage
Niro's key advantage was providing a full-stack platform (via APIs and SDKs) that managed the entire lending lifecycle. This allowed their partners to quickly launch financial products, leveraging their existing customer data and distribution to create new revenue streams with minimal upfront investment.
How they differentiate
Niro focused on an embedded lending model, providing a platform for consumer internet companies to offer customized credit products to their users. Their goal was to enable frictionless loan disbursals by integrating directly with popular e-commerce, and other consumer-facing platforms.
Main competitors
Kissht, Slice, LazyPay
Key partnerships
Aditya Birla Capital, IDFC First Bank, Muthoot Finance, PayU Finance, NoBroker, Snapdeal, Housing.com, ShareChat
Notable customers
Snapdeal, Quikr, Housing.com
Major milestones
Raised $11 million in a Series A funding round in April 2023., Secured partnerships with 30 consumer internet platforms., Disbursed a total of $200 million in loans., Shut down operations in October 2024 after failing to raise further capital.
Growth metrics
Disbursed over $200 million in loans.
Market positioning
Niro was positioned as a B2B2C fintech company, acting as an intermediary between financial institutions and consumer platforms. They aimed to help digital platforms increase user engagement and create new revenue streams by offering credit products.
Geographic focus
India
Patents and IP
No public information available.
About Aditya Kumar
Co-founder and CEO of Qbera, a consumer lending platform. Previously served as an Executive Director at Goldman Sachs in both London and Mumbai.
Official website: https://niro.money/ (Inactive)