LoanKuber Secures $3.5 Million in Pre-Series B Funding Round
- ByStartupStory | August 24, 2024
Fintech company LoanKuber has successfully raised $3.5 million in a pre-Series B funding round. The round, which includes both equity and debt, was led by Singapore-based TRTL VC and saw participation from existing investor Inflection Point Ventures, along with Auxano, LetsVenture, Mavuca Capital, and notable angel investors such as Ruchi Deepak (Co-founder, Acko), Prashant Tandon (Co-founder, 1mg), and Pankaj Vermani (Co-founder, Clovia).
The newly raised capital will be instrumental in expanding LoanKuber’s assets under management (AUM), which currently stands at approximately ₹93 crore. The company plans to utilize the funds to scale its operations, establish new branches, and deepen its reach into semi-urban communities, particularly in Delhi, Uttar Pradesh, and Haryana.
“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.
LoanKuber, founded in 2018 by Saurabh Nagpal and Saumya Nagpal, is a managed marketplace that focuses on providing mortgage lending to micro-SMEs, secured against owned residential collateral. The company recorded a profit after tax (PAT) of ₹1.5 crore in FY24.
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