LoanKuber to utilise funding to scale assets under management, improve the existing technology stack as well as build and expand the team
Fintech company LoanKuber, a digital mortgage platform for Micro-SMEs, has raised $2 million as part of its ongoing Series A round led by Inflection Point Ventures.
The round also saw participation from Accolade Holdings, LetsVenture, Family offices, and Marquee Angel Investors, including Prashant Tandon (Founder 1Mg ). Pankaj Vermani (Founder, Clovia) and PE Veteran Vishal Gupta (TA Associates).
The funds will be used to scale assets under management(AUM), improve the existing technology stack as well as build and expand the team.
Saurabh Nagpal, CEO of, LoanKuber says, тАЬThe funds will be used to further fuel our mission of offering innovative and affordable mortgage solutions to micro-SMEs and the next half billion Indians. The current fundraising will help us further invest in the team, technology, and operations to fulfill our mission.тАЭ
We are not just building a mortgage lending business; we are also transforming the lives of the Next 500 million people by unlocking the economic value of semi-urban and rural properties with our mortgage solutions, he added.
Loankuber has built an automated institutional co-lending platform for micro-mortgages allowing for competitive pricing to the end customer while generating higher yields on its own NBFC balance sheet. The company has created hybrid acquisition channels that include a digital connector platform, lead generation platform, and low-cost branches reducing customer acquisition costs by 30 per cent.
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