Niro raises $3.5M in seed round led by Elevar Equity
Fintech startup Niro recently announced that it raised $3.5 million in seed round funding led by Elevar Equity. The round also saw participation from several angel investors including Kunal Shah (CRED), Bala Parthasarthy (Managing Partner, Prime Ventures), Nitin Gupta, and the Patni Family office.
The company plans to use the capital raised to expand its current 16-17 people strong team and develop its product offerings. .
Niro was founded in March 2021 by Aditya Kumar and Sankalp Mathur. It is a fintech company that aims to provide embedded credit products to consumer internet brands. The latter can then offer them to their customers.
“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,” commented Aditya Kumar.
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