Fintech startup Nira has raised about Rs 18.68 crore or around $2.5 million in its pre-Series A2 round led by JB Ventures. Collective Ventures, Fahim Rashid and Toby Chapman have also participated in the new round.
Nira has allotted 1,773 preference shares at an issue price of Rs 1,05,398.95 each to raise Rs 18.68 crore, shows the company’s regulatory filings. JB Ventures led the round with 14.95 crore while Collective, Rashid and Chapman have invested Rs 2.8 crore, Rs 55 lakh and Rs 35 lakh respectively.
As per our data tracking platform Fintrackr, the valuation of the company is estimated at around Rs 230 crore or about $31 million.
Founded by Nupur Gupta and Rohit Sen in 2017, Nira focusses on offering small-ticket loans to workers in the blue- and grey-collar segments. The loans of up to one lakh are offered for up to one year through the firm’s app-based credit line. The company counts Avail Finance, Bueno Finance and Perk Finance among a few others as its competition.
In April 2020, Nira had closed $2.1 million in pre-Series A funding round from existing and new angel investors in the UK, Europe, and India.