Finance Director

Thank you for taking the time to look at NIRA, an exciting fintech startup which, starting with credit, is building financial services for India’s mass market.

Today, if you were to think of the largest financial brands in India, you’d think of the banks: HDFC, ICICI, Kotak etc. They all serve the richest cohort of India’s society. Over the last few years some newer brands have emerged that target upwardly mobile millennials; think Slice, MoneyView, Uni Cards etc. The mass market, or Middle India, remains a white space. This is the gap that NIRA is looking to fill.

Launched in 2018, NIRA has found a very strong product market fit, and has established itself as the category leader for the mass market segment. Since the passing of Covid, the company is growing very quickly; we’ve averaged a monthly growth rate of 17% for the last 20 months. We’re looking to grow another 3x before the end of 2023, and a further 3x in 2024. This is a huge market, we need to go after it.

Our fundamentals are robust: we are unit positive on our loans, and expect to turn profitable in the next 3 to 4 months. This is a real business with a very strong foundation.

Beyond personal loans, we are looking to introduce a second product this year, and more will follow. NIRA will become the holistic provider of financial services for Middle India.

NIRA is looking to bring on board a Director of Finance to help us take the business to the next level, while maintaining tight control and discipline around our finances. The successful candidate will be considered a mid-senior level hire, and will work closely with the founders in all aspects of financial control and strategy. If you're looking for a dynamic and challenging role on the cutting edge of the financial services industry, and a chance to grow with the firm, then this could be the seat for you.

Roles and Responsibilities:

• Work with founders to make financial plans (forecasting) and strategy
• Financial performance evaluation /variance analysis, KPIs for the business
• Loan book management
• Cash flow & working capital management
• Preparation of key financial metrics for investors and management
• Ensuring timely reconciliations and invoice collections with our debt funding partners
• Responsible for company accounts and financial reporting as per regulatory requirements
• Fundraising strategy/ Capital structure optimisation (debt, venture debt, equity)
• Develop accounting policies to maintain and strengthen internal controls
• Drive key finance initiatives to improve performance and facilitate business growth
• Actively identify opportunities to improve cost structure & unit costs Coordinate with auditors / diligence teams to successfully close audits Vendor management (we use multiple 3rd party services so need to manage these expenses)
• Oversee a small team of finance professionals.

Desired Skills, Qualifications and Attributes:

• CA qualified with 10+ yrs experience
• Experience in an NBFC would be considered an added advantage
• Experience in a fast growing startup is preferred*
• Demonstrated experience in financial leadership role for at least 2 years
• Financial / cashflow modeling
• Strong ability to collaborate, problem solve, and work with multiple teams.
• Sharp commercial sense
• Detail oriented / meticulous
• Excellent written and oral communication skills
• Highly data driven and analytical approach in problem solving
• Drive for excellence across all aspects of work
• Proficient use of tools such as Excel and Tally
• Willingness to work at a high level of intensity; we’re a fast growing business, you need to be able to keep up!

Nice to Have:

• Strong network with bankers
• Network within RBI
• Understanding of regulations for lending businesses.