[Funding alert] Volt Money Secures $1.5 Mn in Pre-Seed Funding

Volt Money, a well-known platform for quick secured loans against mutual funds, recently revealed a $1.5 million pre-seed fundraising round.

Numerous eminent investors, including Titan Capital, All In Capital, Praveen Jadhav of Raise Ventures, Aditi Kothari of DSP Adiko Holdings, Gemba Capital, Kunal Shah of Cred, and Ashish Kehair and Rahul Jain from Nuvama Wealth, participated in the fundraising. The funds will be wisely allocated to collaborations and the hiring of essential professionals for product development.

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Lalit Bihani, Co-Founder & CEO of Volt Money, said, “We’re at the cusp of disruption of instant secured loans in India. With the advanced digital infrastructures for KYC, account aggregator, and pledging capabilities, we’re ideally positioned to seize a unique & very large opportunity. We’re grateful for the trust our investors have placed in us.”

Lalit Bihani, Ankit Agarwal, and Bharat Lamba, three IIT Delhi grads who have been friends since 2008, launched Volt Money in April 2022. They partnered with Bajaj Finserv Limited, the top NBFC in India, in January 2023 to start an end-to-end procedure with a smooth digital journey. With loans ranging from Rs. 25,000 to Rs. 2 Crores, the company has successfully served customers in more than 80 cities as of today.

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Highlighting Volt Money’s value proposition, Bipin Shah of Titan Capital noted,”Volt Money’s innovative approach to offer seamless liquidity against financial savings is an essential service for today’s investors. The early traction from customers and partners demonstrates a strong market fit for Volt Money’s platform.”

Volt Money is demonstrating industry leadership with its frictionless digital approach to securing loans against mutual funds. As Praveen Jadhav of Raise Ventures observes, “We recognize the immense potential of Volt Money’s mission to empower 10 crore investors to obtain instant secured loans, setting the stage for long-term wealth creation. The experienced founding team at Volt Money brings a strong combination of skills and expertise to spearhead this innovation.”

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Kushal Bhagia, Founder of All in capital says “Over the past five years, the number of active mutual fund investors in India has boomed from 10 million to 46 million and the retail participation in the Indian stock market has grown from 15% to 25%. A significant share of the average Indian’s savings is now locked up in the equity markets. However when they need liquidity for working capital or for household expenses, their options are still high interest rate uncollateralized loans. Volt Money is unlocking liquidity out of Indian’s savings by offering them extremely affordable Loans against Mutual funds and Securities – that too all online in a few simple clicks. Lalit, Bharat and Ankit bring a very good combination of Product, underwriting and technical expertise to the table and we are excited to partner with them as they unlock the power of this asset class for millions of Indians.“

About Volt Money

Volt Money is a B2C lending platform that enables retail customers to get instant, low-cost & flexible credit by pledging their MFs & stocks via a 100% digital.