Niro, which help embed personal credit products into consumer facing platforms, has reportedly collected $3.5m in seed funding.
Elevar Equity served as the lead investor, with commitments also coming from a host of angel investors, including Kunal Shah, Nitin Gupta and the Pati Family Office, according to a report from PYMNTS.
The company’s goal is to disrupt the consumer lending market in India through embedded credit products.
Niro, which was founded in 2021, empowers consumer brands to directly embed credit products in their operations.
Niro CEO Aditya Kumar told PYMNTS, “At the core of large-scale transformations lies a single innovation. We believe that embedded finance is one such innovation, and Niro aims to leverage the power of embedded finance to unlock potential for all customer-facing digital platforms to become consumer lending FinTechs.
“This will enable them to offer their consumers bespoke and competitive financial products combined with a frictionless all-in-one platform experience.”
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