Digital mortgage platform for micro-SMEs LoanKuber has raised $1.25 million as part of its ongoing Pre-Series A round. LetsVenture, AngelList India and Accolade also participated in the funding round.

LoanKuber aims to use the raised amount towards building and expanding the team, enhancing the existing tech stack and rapidly growing its Assets Under Management to Rs 75 crore in the next 12 months.

[Read:  Factors Driving The Growth Of Fintech Industry In India]

Founded by IIT Delhi alumni Saurabh Nagpal in 2016, LoanKuber is a digital mortgage platform providing mortgage loans of Rs 3-10 lakh to semi-skilled professionals, micro-SMEs, and everyday services for business expansion.

Speaking on the development, Saurabh Nagpal, Founder and CEO of LoanKuber, said,

“The funding would enable us to accelerate our mission of providing affordable and transparent mortgage finance to MSMEs, we would strive to achieve our social goals while balancing both growth and profitability that are required to build a large impact focused financial institution.”

LoanKuber, based on its proprietary underwriting algorithms, provides customised mortgage loans to the underserved MSME’s. The startup aims to onboard 1000 MSMEs in the next 12 months as part of its expansion plan.

Need legal assistance for your startup? Just contact us.

Follow us and connect with us on Instagram, Facebook, Twitter and LinkedIn.