SUMMARY
- Fintech startup LoanKuber has successfully secured $3.5 million in Pre-Series B funding round led by Inflection Point Ventures and TRTL VC.
- This funding round also included contributions from debt and equity investors.
- LoanKuber plans to enhance its existing technological infrastructure, expand its team, and increase its AUM with the funds.
Fintech startup LoanKuber, specializing in providing essential financial services and mortgage-based financing solutions to small and medium-sized enterprises, has successfully secured $3.5 million (approximately Rs 29.4 billion) in Pre-Series B funding round led by Inflection Point Ventures and TRTL VC. This funding round also included contributions from debt and equity investors.
Participating in the round were prominent entities such as Auxano, LetsVenture, Mavuca Capital, and angel investors, including notable figures such as Ruchi Deepak, co-founder of Acko, Prashant Tandon, co-founder of 1mg, and Pankaj Vermani, co-founder of Clovia.
With this infusion of capital, LoanKuber intends to enhance its existing technological infrastructure, expand its team, and increase its asset under management.
With this funding, LoanKuber is planning to achieve an AUM of Rs 180 billion within the next year, competing against established players in the market such as NAKAD, LendingKart, and KredMint.
Established in 2018 by Saurabh Nagpal and Saumya Nagpal, LoanKuber leverages advanced technology to bridge the gap in essential financial services and offer tailored financing solutions for small and medium-sized enterprises.
Saurabh Nagpal expressed gratitude towards the company’s investors for their steadfast trust and support, acknowledging the pivotal role these resources have played in the company’s progress. He emphasized that addressing the challenges faced by underserved communities in the social sector requires a comprehensive understanding of their unique circumstances, in addition to financial backing.
