Zero Down Payment Mobile Phones
                     September 2017 
FOUNDER PROFILES
ROHIT SEN : CEO/ Co-Founder
12 years in finance as a trader
Worked at Bank of America, Merrill Lynch and Goldman Sachs. 
Holds degrees from Oxford University and the London School of 
Economics.
NUPUR GUPTA : Co-Founder
5.5 years in finance as a quantitative analyst and structurer. 
Worked at Citigroup and Goldman Sachs.
Holds degrees from IIT Delhi and University of Waterloo, Canada.
 
THE PROBLEM
More than 90% of Indians do not have access to credit through the 
formal system (World Bank)
People are forced to turn to informal channels including money 
lenders, who often charge very high interest rates.
Financial exclusion sharply limits the ability of people to save, invest, and 
improve their circumstances (Nilekani & V. Shah)
EXISTING LENDERS NEGLECT THE 
“MASS MIDDLE”
High
Formal Good borrowers across income levels
Lenders
High operating costs make small loans 
unviable for banks
Income
MFIs don’t usually offer loans to 
individuals
MFI’s
Low
Good Borrowers
Bad Borrowers
THE SOLUTION….GO DIGITAL.
Use of alternative (digital) data allows us to score people that banks 
cannot.
If borrower score is sufficiently high, then we can offer them credit.
Digital process dramatically reduces on-boarding costs.
User accesses NIRA through our app: quick, easy and convenient.
OUR VISION: A world where everyone has access to fast, 
frictionless finance, at a rate that is fair.
OUR MISSION: Promote financial inclusion by creating simple, 
transparent products that empower individuals to live a life of 
choice and freedom.
WHY NOW? 7%+ GDP growth 
expected for at least the 
next 5 years (IMF) 
Smartphone penetration 
Growing rising rapidly due to Regulator
Economy falling costs of handsets y & data.. 
Environm Younger consumers are 
ent much more willing to 
take debt
Digital Smart
Infrastructure Indian govt. has built Phones strong infrastructure 
(Aadhaar, India Stack)
Consumer Financial inclusion is a 
Attitudes key objective for the 
Indian govt. 
MARKET OPPORTUNITY: India’s Emerging 
Middle Class
 250mm middle class 
today. 400mm Wages may increase 
 Rising to 570mm addressable market 4x between 2013 and 
in 2025 by 2020. (Nilekani) 2030. (KPMG)
(McKinsey)
 Consumer lending to grow 
600-700mm from $420bn in 2016 to 
smartphones in use by $2.1trn in 2025. 
2020 (Credit Suisse)
(Credit Suisse)
 $420bn of market value creation is “up for 
grabs” in next 10 years. (Credit Suisse)
GO TO MARKET STRATEGY
Initially target urban salaried millennials:
Have a high adoption rate of new technologies
Will share their experiences with their friends 
Digital Footprint and peers
Willing to share their personal data in exchange 
Urban
WillingneMssillennial
for a product or service (Omidyar Network)
  No credit score
 to take debt
Start in Bangalore due to large graduate 
workforce before rolling out to other cities.
TYPICAL CUSTOMER
Profile
• Graduates in the early part of their 
careers.
• Earning 2.5 to 6 lacs per year ($3,700 
to $8,000).
• Salaried employee, paid monthly.
• Living in rented accommodation with 
other graduates.
• Active user of smartphone and social 
media. Expected Use 
• Consumer duraCbales peusrchases e.g. 
laptop, smartphone 
• Educational courses 
• Travel / Experiences
• Emergency contingencies e.g. 
unforeseen medical expenses
PRODUCT DESCRIPTION
Line of credit: Rs. 10,000 to Rs. 
100,000 ($150 to $1,500) 
Repayment term: 3 to 12 months
Interest rate: 1.5% to 2.5% per month
Drawdowns and repayments 
electronically to user bank a/c
Can use for online and offline 
purchases
No need for repeated applications
BUSINESS MODEL
Loan Disbursal
Application + Credit Appraisal Application + Drawdown
FUNDER NIRA USER
Performance Data Notifications
Repayment
• Partnership with Bank or NBFC: use their licence and 
balance sheet.
• Risk sharing arrangement with Funder. Potential for 
referral programme.
• Revenues derive from loan margins to the Funder and 
referral fees.
FOLLOW US…
www.facebook.com/nirafinance
www.instagram.com/nira.finance
www.twitter.com/nirafinance
www.medium.com/nira
www.nirafinance.com