Near Intelligence Files for Bankruptcy, Secures $16M Lifeline as Asset Sale Begins

Data intelligence platform Near Intelligence has filed for Chapter 11 bankruptcy protection, marking a significant shift for the privacy-focused analytics company. The filing, submitted to the U.S. Bankruptcy Court for the District of Delaware, sets the stage for a structured asset sale overseen by the court.

Securing Operating Capital Through Chapter 11

To maintain operations during the restructuring process, Near has secured a debtor-in-possession (DIP) financing agreement worth up to $16 million from Blue Torch Finance LLC, its existing secured lenders. This capital injection will enable the company to continue paying employees, meeting vendor obligations, and serving customers throughout the bankruptcy proceedings while simultaneously executing its asset sale strategy.

The DIP facility represents a critical lifeline, allowing Near to transition into Chapter 11 without material disruption to its day-to-day operations. The secured lenders’ support for both the bankruptcy filing and the financing arrangement underscores their interest in an orderly resolution.

Asset Auction Framework: A $50M Opening Bid

Prior to the bankruptcy filing, Near entered into a stalking horse agreement with Blue Torch Finance to acquire substantially all company assets through a credit-bid of not less than $50 million. This opening bid comprises two components: the full $16 million DIP facility amount plus a minimum of $34 million from Near’s existing prepetition senior secured credit facility.

The sale process follows Section 363 of the Bankruptcy Code, which permits court-supervised auctions designed to maximize stakeholder recovery. The framework explicitly allows competing bidders to submit higher or otherwise superior offers, subject to Bankruptcy Court-approved bidding procedures and customary closing conditions.

Structured Sales Process with Competitive Bidding

Near’s Chapter 11 case incorporates a formal bidding process that will solicit competing offers from third parties. The company, working alongside its advisors and under Bankruptcy Court supervision, will evaluate all bids received and manage the auction dynamics. This structure aims to ensure that assets are sold to the highest and best bidder, rather than defaulting to the stalking horse bid.

The transaction timeline and closing remain contingent on satisfying customary conditions and obtaining all necessary Bankruptcy Court approvals.

About Near Intelligence

Near Intelligence operates as a global privacy-led data intelligence platform, maintaining one of the world’s most comprehensive datasets on people and places. The company’s proprietary technology analyzes information spanning approximately 1.6 billion unique user identifiers across 70 million points of interest in over 44 countries.

Built on a three-pillar foundation of high-quality data, privacy protections, and artificial intelligence, Near’s solutions enable operational and marketing leaders across retail, real estate, restaurants, travel, telecommunications, and media to engage customers and scale operations effectively.

With offices in Pasadena, San Francisco, Paris, Bangalore, Singapore, Sydney, and Tokyo, Near has established itself as a significant player in the location intelligence and consumer analytics sector prior to its current restructuring.

Legal and Advisory Support

Near is represented by Willkie Farr & Gallagher LLP and Young Conway Stargatt & Taylor, LLP in legal matters, with Ernst & Young LLP serving as restructuring advisor and GLC Advisors & Co., LLC as restructuring investment banker. Comprehensive information regarding the Chapter 11 case and related court filings is accessible through official bankruptcy court channels.