Close
Through an industry-first embedded credit partnership Niro, a leading embedded consumer lending platform, & Quikr cross the $1 Million monthly disbursals mark for Quikr customers. This incredible volume momentum has been unlocked in just 8 months. The ticket sizes of loans disbursed ranged from INR 50,000 to INR 7,00,000 across personal loans, home renovations, health expenses, education expenses, vehicle purchases, and others. Doubling down on this growth trajectory, Niro & Quikr look to disburse $100 Million through the partnership in the next 24 months.
Over the last 5 years, the market dynamics have rapidly evolved with parallel thrust in digital penetration and infrastructure. Startups today are increasingly looking at alternative revenue streams by way of value-added offerings for their sizable and diverse digital customers. This is where Niro steps in as an embedded consumer lending platform that distributes financial products at scale in partnership with leading consumer internet companies.
Niro’s core hypothesis rests on working with consumer internet companies such as Quikr to leverage their distribution – ultimately reducing acquisition costs, operating costs and risk. The aim is to distribute competitive financial products, through innovation in segment coverage, products and delivery – in leading B2B2C partnerships. Niro’s one-of-its-kind full-stack embedded finance offerings help partner brands leverage data & technology to enable competitive, frictionless, risk-efficient consumer lending products with minimal to zero customer acquisition cost
Lauding the partnership, Prasun Mandal, Sr VP – Technology and Analytics, Quikr says,
“The partnership with Niro is of strategic importance to Quikr and we are excited by the prospect of its growth. We have seen the potential of similar partnerships in other aspects of business operations in the past and are looking forward to our first deep partnership in the fintech space. We believe that the competitiveness of the product and ease of use, coupled with the Quikr brand, offer compelling value to our customers.”
Commenting on this milestone, Aditya Kumar, Co-founder & CEO, Niro says “Niro aims to empower consumer internet companies to become consumer lending superpowers. The vision of our organisation is to enable consumer internet platforms to become providers of competitive, frictionless and innovative credit products for their consumers. This milestone is a reaffirmation of our belief that the future of consumer lending will be embedded. We thank Quikr for trusting us to kickstart their embedded credit journey and we look forward to doubling down the growth momentum we have built together”
At the helm of Niro are two seasoned founders with a diverse body of work in finance; Aditya and Sankalp. Aditya started his career as an Investment Banker with Lehman Brothers and later founded Qbera in late 2015. InCred Financial Services acquired Qbera in 2020 and he headed the personal loans and platform business at InCred up to 2021. Sankalp is an engineer from IIT, Kanpur class of 2003. He has spent most of his career with Banks like HSBC, Citi and Barclays and the last 5 years with start-ups KredX and MoneyTap. He has extensive experience in Analytics, Underwriting, Collections, Modelling and Forecasting. They are supported by a robust team of … at their .. office.
About Niro
Niro, launched in 2021, is a homegrown embedded consumer lending Fintech solution. It aims to empower consumer internet companies to become consumer lending superpowers. The vision of the start-up is to empower consumer internet platforms to become a provider of competitive, frictionless and innovative credit (and other financial) products for their consumers. By providing customized credit offerings, Niro empowers these platforms to drive engagement, create value, and in turn generate significant revenues. Founded by Aditya Kumar & Sankalp Mathur, it has raised $3.5 Mn from Elevar Equity in its seed funding round which will strengthen its aim of making competitive & frictionless credit accessible for everyone.
