Mortgage lending platform LoanKuber has raised $3.5 million in a pre-Series B funding round, mix of both equity and debt.
The funding round was led by Singapore-based venture capital firm TRTL Ventures and existing investor Inflection Point Ventures, as per an Economic Times report.
The round also saw contributions from Auxano, LetsVenture, Mavuca Capital, and prominent angel investors including Ruchi Deepak of Acko, Prashant Tandon of 1mg, and Pankaj Vermani of Clovia, the report added.
“This fresh infusion of capital will help us scale our efforts, set up new branches and penetrate deeper into semi-urban communities in Delhi, Uttar Pradesh, and Haryana, and ensure that we can continue building a more inclusive and equitable financial landscape,” said Saurabh Nagpal, Founder & CEO of LoanKuber, in a release, as per the report.
With this, LoanKuber's post-investment valuation is now at $27 million.
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The new funds will help expand LoanKuber's assets under management (AUM) from the current Rs 93 crore to Rs 180 crore.
Founded by Saurabh Nagpal and Saumya Nagpal in 2017, LoanKuber is a non-banking finance company (NBFC) specialising in mortgage loans for micro, small, and medium enterprises (MSMEs) and semi-skilled professionals, especially in underserved regions of the country.
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