Fintech startup Niro shuts down, Regulatory pressures & credit deterioration cited as key factors

Fintech startup Niro, founded by Aditya Kumar and Sankalp Mathur, has shut down after raising $20 million from investors like Elevar Equity. The B2B2C platform helped internet firms offer loans between ₹50,000–₹7 lakh, reaching 170 million users and $100 million AUM. Regulatory pressure, credit issues, and limited capital led to closure. Niro reported ₹7.86 crore revenue and ₹48.7 crore loss in FY24.