Bengaluru: Empower Finance Inc., a U.S.-based fintech company, has announced the acquisition of NIRA, one of India’s leading digital lending platforms focused on financially underserved segments.
The announcement marks Empower’s strategic entry into the Indian market and aligns with its global mission to deliver responsible, tech-driven financial services to underbanked consumers.
Founded in 2018, NIRA has disbursed over ₹1,600 crore (~$200 million) in personal loans to over hundreds of thousands of unique customers in 5,000+ towns across India, with 55% of its borrowers located in Tier 3 or smaller cities.
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Targeting salaried and self-employed individuals earning between ₹12,000–₹40,000 per month, NIRA uses alternative data and AI-powered underwriting systems to offer small-ticket unsecured personal loans. The company turned profitable in 2023, driven by disciplined unit economics and an in-house collections model.
Empower Finance to Expand Global Footprint
With the acquisition of NIRA, Empower Finance is set to significantly expand its global footprint and reinforce its vision of fostering financial inclusion in emerging markets.
Empower currently operates across the U.S., Mexico, and the Philippines, with a customer base exceeding 5 million.
“We are thrilled to welcome NIRA into the Empower family,” said Warren Hogarth, CEO of Empower. “India is one of the largest untapped credit markets in the world. NIRA’s strong operational foundation and customer-first approach make it an ideal partner. We’re committed to scaling its growth while continuing to deliver responsible credit to Working India.”
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Post-acquisition, NIRA will maintain its brand identity and leadership team, including co-founder and CEO Rohit Sen, who expressed strong alignment with Empower’s values and long-term mission.
“Empower’s global reach and ethical credit approach make them a natural partner,” said Rohit Sen, Co-founder of NIRA. “Together, we aim to deepen our impact by offering fair and transparent financial solutions to millions of working Indians who have historically been left out of formal credit channels.”
With Empower’s capital, technological resources, and experience in scaling responsible lending solutions globally, NIRA will now focus on increasing disbursement volumes, expanding product offerings, and solidifying its position as India’s preferred financial partner for emerging middle-income consumers.
This acquisition signals Empower Finance’s continued expansion into high-growth international markets, using its robust technology platform and localized partnerships to deliver inclusive financial services for the next billion.
