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Fintech firm LoanKuber, a digital mortgage platform for micro-SMEs, has raised $2 million as a part of its ongoing Sequence A funding spherical led by Inflection Level Ventures. The spherical additionally noticed participation from Accolade Holdings, LetsVenture, Household workplaces, and Marquee Angel Buyers together with Prashant Tandon (founder 1Mg ), Pankaj Vermani (founder, Clovia), and PE Veteran Vishal Gupta (TA Associates). The fund raised shall be used to quickly scale AUM, enhance the present know-how stack in addition to to construct and broaden the workforce.
“The funds shall be used to additional gas our mission of providing revolutionary and inexpensive mortgage options to micro-SMEs and the subsequent half billion Indians. The present fundraising will assist us additional spend money on the workforce, know-how, and operations to satisfy our mission. We’re not simply constructing a mortgage lending enterprise; we’re additionally remodeling the lives of the subsequent 500 million folks by unlocking the financial worth of semi-urban and rural properties with our mortgage options,” stated Saurabh Nagpal, CEO, LoanKuber.
The corporate has created hybrid acquisition channels that embody a digital connector platform, lead technology platform, and low-cost branches decreasing buyer acquisition prices by 30%. It additionally goals to construct an AUM of INR 200 crore within the subsequent 15 months as a part of its growth plan, claimed by the corporate in an announcement.
“We’re deeply impressed by the LoanKuber workforce and their meticulous execution. We now have invested within the firm from their pre-Sequence A stage and proceed to again their imaginative and prescient as they develop at a wholesome fee and tackle an enormous financing hole which exists in the present day within the Indian MSME sector,” stated Mitesh Shah, co-founder, Inflection Level Ventures.
Based by Saurabh Nagpal, LoanKuber offers personalized mortgage loans to underserved MSMEs and is amongst the uncommon startups to realize profitability early on of their journey.
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