As part of its Series A capital raise, led by current investor Inflection Point Ventures, mortgage lending company LoanKuber has raised $2 million (or around Rs 16.5 crore).
Along with Accolade Holdings and LetsVenture, angel investors Prashant Tandon (1Mg), Pankaj Vermani (Clovia), and Vishal Gupta (TA Associates), as well as other family offices, participated in the round, as per reported by VCCircle.
The New Delhi-based company would use the additional capital for recruiting new staff and expanding its technological stack and assets under management (AUM).
“The current fundraising will help us invest in the team, technology and operations,” said Saurabh Nagpal, Founder of LoanKuber.
Through their automated institutional platform they provided small ticket mortgage loans to its customers from their NBFC ( ₹Janasha Finance₹) in partnerships with lending partners.
“We have invested in the company from their pre-Series A stage and continue to back their vision as they grow at a healthy rate and address a huge financing gap that exists today in the Indian MSME sector.” added Mitesh Shah, co-founder, Inflection Point Ventures.
LoanKuber is a marketplace that is administered for the purpose of providing underserved MSMEs and the Next Half Billion with mortgage loans.