Empower Finance Acquires NIRA to Accelerate Credit Access in India's Underserved Markets

SAN FRANCISCO and BENGALURU, India, July 22, 2025 /PRNewswire/ -- Empower Finance Inc., a U.S.-based fintech company focused on expanding access to credit for underserved consumers, today announced its acquisition of NIRA, a leading Indian digital lending platform serving 'Working India'. The acquisition strengthens Empower's global mission to deliver responsible, technology-driven financial services to underbanked populations worldwide.

Founded in 2018, NIRA has disbursed over ₹1,600 crore (~$200 million) in personal loans to hundreds of thousands of unique customers across more than 5,000 towns in India, with 55% of borrowers residing in Tier 3 or smaller markets. NIRA leverages alternative data and automated underwriting to deliver small-ticket unsecured personal loans to salaried and self-employed individuals earning ₹12,000 to ₹40,000 per month. The company achieved profitability in 2023 through disciplined unit economics and in-house collections.

The acquisition allows Empower to scale its presence in India by combining its global technology and credit expertise with NIRA's proven local distribution model and operational strengths. Empower currently operates across the U.S., Mexico, and the Philippines, serving more than 5 million customers.

"We are thrilled to welcome NIRA into the Empower family," said Warren Hogarth, CEO of Empower. "India represents one of the largest underserved credit markets globally, and NIRA's deep customer insights, strong management team, and proven operational excellence make it an ideal partner. We look forward to investing in NIRA's continued growth, while honoring its brand and mission to be the pre-eminent financial partner for Working India."

NIRA will retain its brand identity and leadership team and continue building products tailored to the needs of India's emerging middle class. With Empower's capital backing and international experience, NIRA plans to scale its lending volumes, accelerate product innovation, and deepen its impact.

"Empower's commitment to responsible credit and global scale makes them the perfect partner," said Rohit Sen, co-founder of NIRA. "Together, we're excited to unlock new opportunities for millions of working Indians who deserve access to fair, transparent financial products."

With this acquisition, Empower continues its expansion into high-potential international markets, combining cutting-edge technology with local insight to serve the next billion.