MSME LoanKuber lending platform raises Rs 13 cr in pre-series A cycle


MSME lending platform LoanKuber has raised a Rs 13 crore pre-Series A round led by Lets Venture and with participation from Inflection Point Ventures, among other investors.

The company will use the proceeds to build and expand the team, improve the existing technology stack and increase its loan portfolio to Rs 75 crore over the next 12 months. LoanKuber aims to integrate 1,000 MSMEs on its platform over the next 12 months as part of its expansion plan.

Mitesh Shah, co-founder of Inflection Point Ventures, said: “We know that banks are not designed to lend to a majority of the population who often fall for shady loan applications or sharks applying high interest rates and engage in unethical practices. practices.”

“We believe that loans to MSMEs are still an untapped market and LoanKuber has built the right technology stack to deploy their services for this segment,” he added.

The platform allows MSMEs to take out loans against held residential collateral. The company co-lends with larger financial institutions and is currently operational in 10 locations across the NCR, such as Delhi, Gurgaon, Noida and Faridabad, among others.

LoanKuber was founded in 2017 by Saurabh Nagpal, alumnus of IIT Delhi and New York University. He has 15 years of experience in computer finance and high yield credit in the US and Indian markets, and claims to have conducted over $ 1 billion in residential and commercial mortgage financing transactions.

Dear reader,

Business Standard has always strived to provide up-to-date information and commentary on developments that matter to you and have broader political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these difficult times resulting from Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative views and cutting-edge commentary on relevant current issues.
However, we have a demand.

As we fight the economic impact of the pandemic, we need your support even more so that we can continue to provide you with more quality content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscriptions to our online content can only help us achieve the goals of providing you with even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital editor


Previous Algofi raises $ 2.8 million for its blockchain-based decentralized lending platform
Next Relationship-Based Lending Platform Zirtue Opens Platform for Business Enterprises with New Alternative Payment Solution | State