Niro in partnership with Quikr crosses $1 million loans disbursed

Embedded consumer lending platform, Niro, in partnership with Quikr crossed the $1 million monthly disbursals mark for Quikr customers. The ticket sizes of loans disbursed range from Rs 50,000 and go up to Rs 7,00,000 across various categories such as personal loans, home renovations, health expenses, education expenses, and more.

Commenting on this development, Aditya Kumar, co-founder, and CEO of 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.” 

Prasun Mandal, Senior Vice President - Technology and Analytics at Quikr, said that the partnership with Niro is of strategic importance to Quikr. “We believe that the competitiveness of the product and ease of use, coupled with the Quikr brand, offer compelling value to our customers,” he noted. 

After hitting this milestone they are looking to disburse $100 million through the partnership in the next 24 months. While Quikr will be able to leverage Niro’s full-stack embedded finance offerings and create frictionless consumer lending products, Niro will get to closely work with consumer internet such as the Bengaluru-based unicorn, and expand its network of offerings.

Niro was founded in 2021 by Aditya Kumar and Sankalp Mathur. It has raised $3.5 million as part of its seed funding from Elevar Equity.

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