Inuka Capital, Eximius Ventures, Upsparks Capital, GrowX, and a number of strategic angel investors are leading the pre-seed round of Quicklend, a secured lending platform, which has raised Rs 6.75 crore, or roughly $774K.
The money raised will be utilized to expand its business, improve its technological prowess, and add cutting-edge features that will completely transform the lending process. The business plans to invest a large amount of money in research and development.
Quicklend, which was founded by Arunkumar Jadhav, Abhishek Uppala, and Raghuram Trikutam, provides lenders with cutting-edge portfolio management tools and provides borrowers with quick, transparent, and simple lending solutions.
Together with Bajaj and a group of well-known NBFCs, the Bengaluru-based startup also introduced its Loan Against Mutual Funds (LAMF) product.
Mutual fund units are pledged as collateral for a loan known as LAMF. It provides financial flexibility along with the benefit of a fully digital process, just like other asset-backed loans.
