[Funding alert] Fintech startup Niro raises $3.5M led by Elevar Equity

Fintech startup Niro brought $3.5 million up in a seed round drove by Elevar Equity. The round additionally saw support from numerous private backers, including CRED's Kunal Shah, Bala Parthasarthy, Prime Ventures Managing Partner Nitin Gupta, and the Patni Family office, as indicated by an assertion shared by the firm. 


Presently a group of 16-17 individuals, Niro will utilize the assets to grow the group and foster their contributions. 


Established in March 2021 by Aditya Kumar, who prior established loaning stage Qbera, and previous Citibank VP Sankalp Mathur — Niro will give installed credit items to shopper web brands, who would then be able to offer it to their clients. 


"We accept that implanted money is one such advancement, and Niro means to use the influence of installed money to open potential for all client confronting computerized stages to become purchaser loaning fintechs. This will empower them to offer their customers bespoke and serious monetary items joined with a frictionless across the board stage insight," said Aditya Kumar, Co-originator and CEO, Niro, in the assertion. 


The fintech association's lead financial backer, Elevar Equity, is situated in the US and has supported players including loaning stage InCred, Gurugram-based Indifi, and Sarvagram. 


"Elevar makes simply a few ventures each year all things considered. We search for business people with a profound spotlight on and comprehension of the end client, who can construct exceptionally separated, adaptable dissemination models. Aditya and Sankalp's separate individual excursions towards understanding the difficulties in the fintech loaning space and their clearness to focus on a monetarily underserved market through a separated technique immediately impacted us. We are eager to help Niro in journey to fabricate a game-changing endeavor can rethink the mass availability of credit," said Jyotsna Krishnan, Managing Partner, Elevar Equity. 


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