Bengaluru
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. one 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.
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