Janasha Finance mortgage brand LoanKuber raised $3.5 million in a pre-Series B investment headed by Singapore-based TRTL VC and previous backer Inflection Point Ventures.
Auxano, LetsVenture, Mavuca Capital, and angel investors Ruchi Deepak (co-founder of Acko), Prashant Tandon (co-founder of 1mg), and Pankaj Vermani (co-founder of Clovia) were also involved in the round.
The business had secured $2 million in a Series A round earlier in February of last year, with participation from Inflection Point Ventures and other investors. So far, $13 million has been raised.
The money raised would be put towards increasing its assets under management (AUM), which is now at around Rs 93 crore. It will also be implemented in the infrastructure of technology and aid in fortifying its leadership group.
LoanKuber, established in 2017 by Saurabh Nagpal, offers underprivileged MSMEs customized mortgage loans. It makes the claim that it will create an automated institutional co-lending platform for microloans that will enable it to generate much better rates on its own NBFC balance sheet while offering competitive pricing to the final consumer.
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In order to cut client acquisition costs by thirty percent, the company has developed hybrid acquisition channels that include a digital connector platform, a lead generation platform, and low-cost branches.
Since its founding, LoanKuber claims to have focused heavily on unit metrics, capital efficiency, and thrifty operations, all of which have contributed to the company’s success.
LoanKuber intends to grow its AUM to about Rs 180 crore over the course of the next 12 months, with its net worth now estimated to be at Rs 51 crore.
About LoanKuber
LoanKuber is a controlled mortgage loan platform for vulnerable MSMEs and Next Half Billion. Janasha Finance, an NBFC, partnered with lending partners to offer small ticket mortgage loans to customers through automated institutional platform.
