Near Pte Ltd
Location-data broker selling mobility and audience insights, now operating as Azira post-bankruptcy.
On the record
Checkpoint: Ongoing Delaware bankruptcy adversary proceedings and SEC/DOJ fraud case developments
The call
The original company was liquidated in bankruptcy and now survives as lender-owned Azira, while its founder faces SEC and DOJ fraud charges.
Near/Azira buys location data from phone apps and sells it to advertisers and police. Google and Meta already own better location data straight from their own apps, so they can do exactly what Azira does without buying from Azira. The bigger problem is that regulators like the FTC are actively shutting down the legal reason these data brokers exist in the first place. The company's main equity already went through bankruptcy in late 2023, the founder is facing criminal charges and may be extradited from France, and an SEC civil fraud case is also active. If the SEC or FTC files charges directly against Azira itself, or if the company loses major customers, the situation gets much worse very quickly.
Why
01
AI pressure: None apparent. AI is not what threatens this company. Legal and regulatory exposure to its underlying data supply is the live danger. Could AI do the core job? Yes, likely.
02
Bigger players: Google, Meta. Google and Meta already sell first-party location and audience data straight from their own apps, with no broker needed in between. Could a giant copy it? Yes, easily.
03
What protects it. Existing client contracts and vertical reports (retail site-selection, hospitality analytics) that still run day to day.
What would change this call
FTC or state AG files an enforcement action naming Azira directly. Would show regulators treat Azira's data practices like other sanctioned brokers (X-Mode, Mobilewalla).
Delaware bankruptcy adversary proceedings (Drivetrain v. UHY, Drivetrain v. MobileFuse) disclose customer or revenue losses. Would confirm material customer attrition tied to the Chapter 11 collapse.
Blue Torch announces a recap, sale, or wind-down of Azira LLC. Would show whether the lender-owned shell can survive as a standalone business.
Delaware bankruptcy adversary proceedings (Drivetrain v. UHY, Drivetrain v. MobileFuse) disclose customer or revenue losses. Would confirm material customer attrition tied to the Chapter 11 collapse.
Blue Torch announces a recap, sale, or wind-down of Azira LLC. Would show whether the lender-owned shell can survive as a standalone business.
Key numbers
- Chapter 11 filed December 8, 2023
- Assets sold for $50M gross, ~$16M net recovery
- Alleged revenue inflated ~27-28% ($25-37M)
Named risks
- Active SEC civil fraud case against founder and execs filed January 2026.
- Parallel DOJ criminal indictment unsealed August 2025 with founder awaiting extradition.
- Sector-wide FTC crackdown on location-data brokers (Mobilewalla Dec 2024, X-Mode 2024) could extend to Azira.
- Underlying data consent basis for mobility signals is legally contested, undermining core data moat.
- Ongoing Delaware bankruptcy adversary proceedings continuing through late 2025 may surface further liabilities.
Rivals, as read in July 2026
| Rival | Direction | Evidence |
|---|---|---|
| gaining on | Owns first-party location data natively embedded in ad platforms, no need for broker layer | |
| Meta | gaining on | Native first-party location/ad data undercuts Azira's third-party broker model |
| SafeGraph | contesting | Direct rival in location-analytics data space per Crustdata competitor listing, 2026-07-08 |
| Placer.ai | contesting | Competing foot-traffic/location analytics vendor in same market segment |
| Mobilewalla | losing to | FTC enforcement against peer for sensitive location data sale, Dec 2024, signals shared sector risk |
Questions people ask
- Is Near Pte Ltd (the location-intelligence company) still in business?
- The original entity, Near Intelligence Inc, filed Chapter 11 bankruptcy on December 8, 2023. Its assets were sold to a Blue Torch Capital affiliate and the surviving operating business now trades privately as Azira LLC, based in Pasadena, California.
- Is Azira (formerly Near) profitable?
- No audited profitability figures are public. Pre-bankruptcy Near reported about $100M in net losses in 2022 per its own bankruptcy filing, and Azira is now private under Blue Torch ownership with no disclosed financials as of July 2026.
- Is Near/Azira facing fraud allegations?
- Yes. The SEC filed a civil fraud case on January 27, 2026 and DOJ unsealed a criminal indictment on August 7, 2025 against founder Anil Mathews and executives, alleging revenue was inflated 27-28% ($25-37M) via fake round-trip deals with MobileFuse LLC.
- Who owns Near/Azira now?
- Since the March 2024 confirmed liquidation plan, the operating business is owned by lender Blue Torch Capital through BTC Near HoldCo LLC, having bought the assets for roughly $50M gross (about $16M net recovery) and rebranding it Azira LLC.
- Could AI replace Azira's location intelligence business?
- Azira's core function, turning mobile-location signals into audience segments, is a data-aggregation workflow that platforms like Google and Meta already do natively with first-party data, meaning AI-driven in-house replication rather than a novel AI product is the main threat.
- What happened to near.com, is it the same company?
- As of 2026, the URL near.com resolves to an unrelated blockchain project called NEAR Protocol, not the Singapore-founded location-intelligence firm. That company's operating brand is now Azira, found at azira.com.
Timeline
- 2026-06-10Azira partners with Carvertise for rideshare-ad visitation-attribution measurement
- 2026-01-27SEC files civil fraud case against founder Anil Mathews and execs
- 2025-12-10Azira launches Hotel Comparison Report AI analytics product
- 2025-08-07DOJ criminal indictment against Mathews, Agarwal, Harlan unsealed
- 2024-03-15Delaware bankruptcy liquidation plan confirmed
- 2024-03SEC terminates registration of Near Intelligence Inc
- 2023-12-08Near Intelligence Inc and affiliates file Chapter 11 in Delaware
- 2023-03Near completes SPAC merger with KludeIn I Acquisition Corp (Nasdaq: INKA)
- 2022-11-09Near secures up to $100M credit facility from Blue Torch Capital
- 2019-07-16Near raises $100M Series D from Greater Pacific Capital
Revision history
26 July 2026
First assessed. Little protection left. The text above is fixed as of this date and is not edited afterwards.
In the same band
Sources
- MMA/Marketing+Media Alliance (2015-08-11)
- EverybodyWiki Bios & Wiki
- TechCrunch (2019-07-16)
- Economic Times
- PR Newswire (2022-11-09)
- Kroll Restructuring Administration (2023-12-07)
- Law360 (2024-02-20)
- FinanceMagnates (2026-01-28)
- Azira Board Message (2025-08-05)
- LA Business Journal (2024-01-01)
- SEC.gov (2026-01-27)
- Substack/Consumer Diligence (2025-08-14)