LoanKuber, a mortgage brand that runs Janasha Finance, has successfully secured $3.5 million in a pre-Series B funding round.
The round was headed by TRTL VC, a Singapore-based venture capital firm, and also included participation from Inflection Point Ventures, an existing investor.
The funds would be utilized to increase its assets under management (AUM), which now amounts to around Rs 93 crore. Additionally, it will be implemented in the technical infrastructure and contribute to the reinforcement of its leadership team.
The funding round also included contributions from Auxano, LetsVenture, and Mavuca Capital, as well as angel investors like Ruchi Deepak (co-founder of Acko), Prashant Tandon (co-founder of 1mg), and Pankaj Vermani (co-founder of Clovia).
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LoanKuber offers tailored mortgage loans to underserved micro, small, and medium enterprises (MSMEs). The company asserts that it is developing a computerized system for partnering with financial institutions to provide small home loans. This system intends to offer competitive interest rates to borrowers while producing higher profits for the company’s own non-banking financial company.
The company has developed hybrid channels for acquiring customers, which consist of a digital connector platform, a lead-generating platform, and low-cost branches. This strategy has resulted in a 30% reduction in customer acquisition expenditures.
About LoanKuber
Founded in 2017 by Saurabh Nagpal, LoanKuber provides customized mortgage loans to underserved MSMEs. It claims to build an automated institutional co-lending platform for micro-mortgages allowing for competitive pricing to the end customer while generating significantly higher yields on its own NBFC balance sheet.
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