Fintech startup Niro has announced to onboard Narendran Prabhakaran, ex-collections head at Navi, as the new head of collections and operations. The company brings Prabhakaran on board to realise its vision of democratising access to convenient and hassle-free embedded credit products for 600+ million internet users in India.
In the past, Prabhakaran has also worked at MoneyTap and has over 20 years of experience across large financial services players and fintech companies like HDFC, GE Capital, GE Money Bank, ICICI Bank, and Bajaj Finance.
“Having spent over 20 years of my career building large-scale collections capabilities, I am thrilled to join the founding leadership team at Niro. The startup's plans to scale aggressively in partnership with leading consumer internet platforms, while ensuring world-class risk-management capabilities resonated deeply with me,” Prabhakaran said.
The fintech company has recently raised $3.5 million in a seed funding round led by Elevar Equity. The funding also saw participation from angel investors like Kunal Shah, Nitin Gupta, Bala Parthasarathy, the Patni Family Office, R Ramaraj, and Aseem Dhru.
“We are at an exciting juncture in our journey where we are investing in key capabilities that take us closer to our vision. Narendran is a unique leader in the industry with collections experience across large banks and fintech alike – and we are extremely excited to have him on board. His valuable expertise will help us in driving scale aggressively while building out world-class risk-management capabilities, realising our vision of transforming all customer-facing digital platforms into fintech,” Aditya Kumar, co-founder, and CEO, Niro said.