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Elevar Equity-backed Niro ropes in Spark Capital exec to head Finance & Strategy
Photo Credit: 123RF.com

Elevar Equity and Cred founder Kunal Shah-backed Niro, a consumer lending focused fintech startup, has appointed Laasyaa Chadaga as its head of finance and strategy.

In her new role, Chadaga would be overseeing the finance function and driving the capital raising initiatives, it added in the statement. Prior to this, she has worked as the vice president at Spark Capital Advisors for the last 10 years, the company said in a statement.

Previously, Chadaga has also worked with a research firm and has also briefly interned with Indian Space Research Organisation (ISRO) for two months.

She has over 12 years of experience as an investment banker and has led fundraising and merger & acquisition (M&A) transactions across multiple sectors, the statement added.

“India is on the cusp of a new Fintech revolution and Niro is enabling that by making personalised, embedded, and frictionless credit a reality for the Indian market. I resonate with Niro’s vision and look forward to driving long-term value for the company,” Chadaga said.

The firm also appointed FanDuniya co-founders Ramkumar Venkatasubramanian and Viswanath Kommalapati to its senior leadership team. The company aims to provide embedded credit products for more than 600 million internet users in India.

Founded in 2021 by Aditya Kumar & Sankalp Mathur, Niro is a homegrown embedded consumer lending Fintech solution that 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, the firm added in the statement.

In October, Niro raised $3.5 million (around Rs 26 crore) in a seed funding round led by Elevar Equity and participation from Kunal Shah of Cred, Nitin Gupta, Bala Parthasarathy, the Patni Family Office, R. Ramaraj and Aseem Dhru, among others.

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