A consumer lending-focused fintech startup Niro’s Finance Head, Laasyaa Pandeswara Chadaga, said consistency and stability in the regulatory policy and environment are required for sustained growth of the fintech industry.
“Consistency and stability in the regulatory policy and environment would be key to ensuring sustained growth of the industry,” Chadaga told ETCFO.
“Uncertainty or lack of clarity in the regulatory environment tends to restrict the flow of equity into the sector which has a cascading effect of curtailing innovation, and customer needs and experiences being compromised due to the inability of large established banks/ NBFCs to cater to the needs of specific groups of customers,” she said.
Niro, a one-year-old startup incorporated in March 2021 believes that opportunities in the Fintech Industry are large and the company should be able to capture nearly 1 million customers by FY25 as it is growing rapidly through partnerships.
For achieving targets set for the Financial year 2025, FY23 growth will set the momentum and the company is focusing extensively on its planning, says the Finance Head.
“FY23 will be a momentous year for us as we chase ambitious growth targets. We will add multiple partners, both from demand and supply perspectives, and also launch our second product, Line of Credit, while Personal Loan Product will continue to remain the primary growth driver. So this year will essentially provide huge traction for us. We are also currently in the midst of raising Series A capital,” Chadaga said.
The Finance veteran highlighted that by FY25 we plan to expand our offerings across multiple credit products and venture into allied financial products, including insurance. Our vision is to make financial products available on-demand to customers by becoming a partner of choice for consumer internet platforms.