LoanKuber Raises Fresh Funding From Existing Investors, Others
Sociallending Technologies and Holdings Pvt Ltd, which operates the mortgage lending platform LoanKuber, has raised $2 million (around Rs 16.5 crore) as part of its Series A capital round led by existing investor Inflection Point Ventures.
Accolade Holdings and LetsVenture, with angel investors including Prashant Tandon (1Mg), Pankaj Vermani (Clovia), and Vishal Gupta (TA Associates), as well as a host of family offices, also participated in the funding round.
As per the startup, the raised funds will be used for hiring and scaling up its assets under management (AUM) and technology stack.
LoanKuber | Digital Mortgage Platform
Founded by Saurabh Nagpal in 2017, LoanKuber is a managed marketplace for mortgage lending to underserved MSMEs and the next half billion.
Through our automated institutional platform, the startup provides small-ticket mortgage loans to its customers from its NBFC (Janasha Finance) in partnerships with its lending partners.
It offers mortgage loans from Rs 3-10 lakh to micro, small and medium enterprises (MSMEs) and semi-skilled professionals. The New Delhi-based firm claims to be currently profitable and aims to achieve an AUM of Rs 200 crore over the next year. In August 2021, LoanKuber raised $1.25 million in funding.
Founded by Ankur Mittal, Vinay Bansal and Mitesh Shah in 2018, Inflection Point Ventures is an angel investing platform based out of Gurugram. So far, IPV has invested over Rs 550 crore across 140 deals. In 2022, IPV announced the launch of Physis Capital, its $50 million VC fund, to invest in pre-Series A to Series B rounds in the startups.
Commenting on the development, Mitesh Shah, Co-founder of Inflection Point Ventures, said,
“We have invested in the company from their pre-Series A stage and continue to back their vision as they grow at a healthy rate and address a huge financing gap that exists today in the Indian MSME sector.”
Earlier in January, Inflection Point participated in the $2 million seed funding round of the house of brands player SuperCluster Pi.
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