LoanKuber, a mortgage brand under Janasha Finance, has secured $3.5 million in a pre-Series B funding round led by Singapore-based TRTL VC. The round, which included a combination of debt and equity, saw participation from existing investor Inflection Point Ventures (IPV) as well as Auxano, LetsVenture, and Mavuca Capital. Notable angel investors such as Ruchi Deepak (co-founder of ACKO Insurance), Prashant Tandon (co-founder of 1mg), and Pankaj Vermani (co-founder of Clovia) also contributed.
With this round, LoanKuber's total funding has now surpassed $13 million. The company plans to use the new funds to double its assets under management (AUM) from the current Rs 93 crore to around Rs 180 crore over the next year. Additionally, part of the funding will be allocated to enhancing the company's technology infrastructure and strengthening its leadership team.
Saurabh Nagpal, Founder & CEO of LoanKuber, noted that the capital infusion will enable the company to expand its efforts, establish new branches, and further penetrate semi-urban communities in Delhi, Uttar Pradesh, and Haryana. This aligns with their mission to create a more inclusive and equitable financial landscape.
Founded in 2017, LoanKuber specializes in providing tailored mortgage loans to underserved MSMEs. The company has built an automated institutional co-lending platform for micro-mortgages, enabling competitive pricing for customers while achieving higher yields on its NBFC balance sheet. Their hybrid customer acquisition strategy, which includes a digital connector platform, lead generation platform, and low-cost branches, has reduced customer acquisition costs by 30%, making the business more capital-efficient.
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