A $1.5 million pre-seed round led by Titan Capital and All In Capital has been raised for Volt Money, a platform for instant secured loans against mutual funds.
Participants in the round also include Ashish Kehair and Rahul Jain from Nuvama Wealth, Aditi Kothari from DSP Adiko Holdings, Kunal Shah from Cred, Praveen Jadhav from Raise Ventures, Gemba Capital, and Aditi Kothari from DSP Adiko Holdings.
According to a press release from Volt Money, the funding will be wisely applied to build partnerships and hire key personnel for product development.
Volt Money, run by Lalit Bihani, Ankit Agarwal, and Bharat Lamba, works with lenders and distribution partners to provide hassle-free, quick secured loans with favorable terms to customers. To start the end-to-end process, it has partnered with Bajaj Finserv Limited.
The company states that it has provided loans ranging from Rs 25,000 to Rs 2 crore to customers in more than 80 cities.
Titan Capital is a venture capital firm that has backed over 200 businesses in the consumer internet, direct-to-consumer brands, SaaS, and fintech sectors. Among the businesses in its portfolio are Mamaearth, OfBusiness, DealShare, Ola, Snapdeal, Razorpay, and Urban Company.
