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Vikas Acharya
Building WelBe| Entr...ย โขย 4m
Yenmo Raises โน9.2 Crore to Expand Instant Loan Services Yenmo, a Bengaluru-based startup, has raised โน9.2 crore in funding, led by Y Combinator with support from Pioneer Fund, Zaka VC, and other investors. What Does Yenmo Do? Yenmo offers instant loans against mutual funds, helping people get money quickly without selling their investments. The loans are available through the Yenmo app, which can be downloaded on Android and iOS. How Will the Funds Be Used? Yenmo plans to use the money to: Improve its loan services Make its technology better Expand its market reach Strengthen its team and operations Why is Yenmo Different? Traditional personal loans can charge 30% or more in interest, but Yenmo offers loans at just 10.5% interest. The loan process takes only 10 minutes and is fully digital. Customers get real human support, not just chatbots. Whatโs Next for Yenmo? Yenmo will soon introduce loans against stocks, insurance, and digital assets. It also plans to launch a special savings account that offers higher interest rates while keeping money easily accessible. The company aims to make borrowing money easier, more affordable, and ethically responsible, helping more people achieve financial stability.
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