Fintech company LoanKuber raises $3.5 million in a pre-Series B round, comprising both equity and debt. The funds will be used to expand its assets under management (AUM), which currently stands at approximately ₹93 crore.
The funding round led by Singapore-based TRTL VC, and existing investor Inflection Point Ventures saw participation from Auxano, LetsVenture, Mavuca Capital, and angel investors such as Ruchi Deepak (Co-founder, Acko), Prashant Tandon (Co-founder, 1mg) and Pankaj Vermani (Co-founder, Clovia.
Additionally, the funds will be used to penetrate into semi-urban communities.
“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 provides mortgage lending to micro-SMEs against owned residential collateral. The company recorded a profit after tax (PAT) of ₹1.5 crore in FY24.