# Niro

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/niro

- Industry: Financial Services
- Headquarters: Bangalore, India
- Website: www.niro.money
- Total disclosed funding: $12M
- Latest round: Series A (Apr 26, 2023)
- Investors on record: 6

## About

Based in Karnataka, India, and co-founded by Aditya Kumar (CEO) and Sankalp Mathur (CRO) in 2021, QFI Technologies Private Limited. trading under the name Niro operates as a finTech company specializing in consumer lending. In May 2024, Niro raised USD 4.3 million in pre-series B funding from new investor MARUI GROUP, with participation from returning investors Elevar Equity, GMO VenturePartners, Mitsui Sumitomo Insurance Venture Capital, ZNL Growth, and Suneight Investment. Other unspecified investors also participated in the round. The company through its mobile application offers embedded credit products to consumer internet brands, who then offer it to their customers. The company offers pre-approved credit with the highest disbursal rates such as a personal loan of INR 50,000 to INR 700,000 offered at a flexible interest plan between 12 to 28 percent for 6 to 72 months.

## Funding rounds

- Series A, Apr 26, 2023, $8.5M — Mitsui Sumitomo Insurance Venture Capital, Elevar Equity, GMO VenturePartners, Rebright Partners
- Seed, Sep 9, 2021, $3.4M — Elevar Equity, Patni Family Office, QED Innovation Labs

## Investors

- Elevar Equity (https://capitalatlas.ai/funds/elevar-equity) — Seed, Series A
- Patni Family Office — Seed
- QED Innovation Labs — Seed
- Mitsui Sumitomo Insurance Venture Capital (https://capitalatlas.ai/funds/mitsui-sumitomo-insurance-venture-capital) — Series A
- GMO VenturePartners (https://capitalatlas.ai/funds/gmo-venturepartners) — Series A
- Rebright Partners (https://capitalatlas.ai/funds/rebright-partners) — Series A