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LoanKuber raises $3.5 Mn led by TRTL VC, IPV, others

Entrackr · 4m

Mortgage brand LoanKuber, which operates Janasha Finance, has raised $3.5 million in a pre-Series B round led by Singapore-based TRTL VC and existing backer Inflection Point Ventures. The round also saw participation from Auxano, LetsVenture, Mavuca Capital as well as angel investors such as Ruchi Deepak (co-founder, Acko), Prashant Tandon (co-founder, 1mg) and Pankaj Vermani (co-founder, Clovia). Earlier in February last year, the startup had raised $2 million in Series A round led by Inflection Point Ventures and others. It has raised $13 million to date. The proceeds will be used for expanding its assets under management (AUM), which currently stand at approximately Rs 93 crore. It will also be deployed in technological infrastructure and help strengthen its leadership team. Founded in 2017 by Saurabh Nagpal, LoanKuber provides customised mortgage loans to undeserved MSMEs. It claims to build an automated institutional co-lending platform for micro-mortgages allowing for competitive pricing to the end customer while generating significantly 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%. According to LoanKuber, it has put strong focus on unit metrics/capital efficiency and frugal operations has helped LoanKuber build a profitable business since inception. With the net worth now increasing to around Rs 51 crore, LoanKuber plans to scale its AUM to approximately Rs 180 crore within the next 12 months.