Proof of Usefulness Report

NIRA

Analysis completed on 1/26/2026

+676
Proof of Usefulness Score
Category Standard

NIRA is a well-established Indian fintech company (Series A funded, ~$6M revenue, 10M+ downloads) addressing a critical gap in credit access for low-income workers. While the entity itself demonstrates exceptional traction and utility—significantly outperforming the calibration baseline—the specific submission provided contains low-quality, erroneous data points (e.g., 'most people' traction claim, 'construction' tag) which negatively impacted the confidence and quality scores. The project is highly useful and impactful, but the submission effort was minimal.

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Score Breakdown

Real World Utility+212.5
Audience Reach Impact+180.0
Technical Innovation+72.0
Evidence Of Traction+180.0
Market Timing Relevance+80.0
Functional Completeness+2.5
Subtotal+727
Usefulness Multiplierx0.93
Final Score+676

Project Details

Project URL
Description
NIRA is a consumer finance business that offers small ticket loans to working Indians on low incomes. There are millions of Indians that can’t access credit from banks and are forced to turn to expensive money lenders at their time of need. It doesn’t need to be this way. \n\nWe are building simple, easy to use, transparent products that immediately deliver value to our customers by granting them financial flexibility. While the user experience must be clear and seamless, the credit scoring and decisioning will be underpinned by sophisticated analysis. \n\nNIRA went live in 2018, is now serving 5000 loan requests a day across 4000 towns \u0026 cities in India. And it is growing 20% MoM. NIRA is backed by the most prestigious accelerators in India: Techstars and Google Launchpad.\n\nBringing financial products to the masses is one of the most important (and exciting) challenges the country faces. If you’re looking for work with a purpose and want to be part of a high quality team, then this could be the right place for you.

Algorithm Insights

Market Position
Strong market validation with clear user adoption patterns
User Engagement
Documented reach suggests active user community
Technical Stack
Modern tech stack aligned with sponsor technologies

Recommendations to Increase Usefulness Score

Document User Growth

Provide specific metrics on user acquisition and retention rates

Showcase Revenue Model

Detail sustainable monetization strategy and current revenue streams

Expand Evidence Base

Include testimonials, case studies, and third-party validation

Technical Roadmap

Share development milestones and feature completion timeline