The Singapore-based TRTL VC and longtime supporter Inflection Point Ventures led a $3.5 million pre-Series B round for the mortgage brand LoanKuber, which runs Janasha Finance.
Auxano, LetsVenture, Mavuca Capital, and angel investors Ruchi Deepak (co-founder of Acko), Prashant Tandon (co-founder of 1mg), and Pankaj Vermani (co-founder of Clovia) were also involved in the round.
The startup had raised $2 million in a Series A round earlier in February of last year, with participation from Inflection Point Ventures and other investors. So far, $13 million has been raised.
The proceeds, which currently total about Rs 93 crore, will be used to increase the assets under management (AUM). It will also be used to bolster the leadership team and the technology infrastructure.
Founded in 2017 by Saurabh Nagpal, LoanKuber offers unworthy MSMEs customized mortgage loans. It states that it will create an automated institutional co-lending platform for microloans that will enable it to offer competitive rates to the final consumer and produce noticeably higher yields on its own balance sheet of NBFCs.
By utilizing low-cost branches, a digital connector platform, and a lead generation platform, the company has reduced customer acquisition costs by thirty percent through the creation of hybrid acquisition channels.
Since its founding, LoanKuber claims to have focused heavily on unit metrics, capital efficiency, and thrifty operations, all of which have contributed to the company’s success.
LoanKuber intends to grow its AUM to about Rs 180 crore over the course of the next 12 months, with its net worth currently estimated to be around Rs 51 crore.
