Mortgage platform LoanKuber raises $2 million led by Inflection Point Ventures
- The round also saw participation from Accolade Holdings and
- Marquee angel investors including
Prashant Tandon(founder, 1Mg ) Pankaj Vermani (founder, Clovia), and PE veteran Vishal Gupta( TA Associates) also invested.
- The funds will be used to rapidly scale AUM, improve the existing technology stack as well as to build and expand the team.
The funds will be used to rapidly scale assets under management (AUM), improve the existing technology stack as well as to build and expand the team. The company aims to build an AUM of ₹200 crore in the next 15 months as part of its expansion plan.
“The funds will be used to further fuel our mission of offering innovative and affordable mortgage solutions to micro-SMEs and the next half billion Indians. The current fundraising will help us further invest in the team, technology, and operations to fulfil our mission,”
Nagpal, an alumnus of IIT Delhi, founded LoanKuber in 2017. It provides customised mortgage loans to underserved Micro, Small and Medium Enterprises (MSMEs). The mortgage financing gap for MSMEs in India is estimated to be $300 billion, the company statement said.
“Over the last year, LoanKuber has successfully built an extremely capital-efficient and profitable business. 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 which exists today in the Indian MSME sector,”
Loankuber has built an automated institutional co-lending platform for micro-mortgages allowing for competitive pricing to the end-customer while generating high yields on its own NBFC balance sheet, said the company.
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