– The raised funds are a part of an ongoing Series A round, and LoanKuber offers mortgage lending services to low-income households, facilitating their path towards financial well-being.
– Inflection Point Ventures, which had invested in LoanKuber during its Pre-Series A round, has invested over Rs. 550 Cr in more than 140 deals to date.
New Delhi, 16th February 2023: LoanKuber, a fintech company that offers a digital mortgage platform for Micro-SMEs, has secured $2 million as part of its ongoing Series A round, with Inflection Point Ventures leading the way. The round also attracted investment from Accolade Holdings, LetsVenture, Family offices, and renowned Angel Investors including Clovia Founder Pankaj Vermani, Prashant Tandon, Founder of 1Mg, and Vishal Gupta, a PE Veteran from TA Associates. The funding will be used to rapidly scale AUM, enhance the existing technology stack, and expand the team.
Founded by Saurabh Nagpal, a graduate of IIT Delhi and New York University and former member of the founding team of Lehman Brothers/Nomura in India, LoanKuber delivers tailored mortgage loans to underserved MSMEs and is one of the few startups to have achieved early profitability in its journey.
LoanKuber is addressing a huge opportunity with a mortgage financing gap for MSMEs in India estimated to be $300 billion, requiring in-depth knowledge and focus.
Mitesh Shah, Co-founder, Inflection Point Ventures says, “Over last year, LoanKuber has successfully built an extremely capital efficient and profitable business. We’re deeply impressed by the LoanKuber Team and their meticulous execution. We have invested in the Company from their Pre Series A stage and continue to back their vision as they grow at a healthy rate and address a huge financing gap which exists today in the Indian MSME sector.”
LoanKuber has developed a digital platform for micro-mortgages, which uses automated institutional co-lending to provide customers with competitive pricing while generating high yields on its own NBFC balance sheet. The company has adopted hybrid acquisition channels, including a digital connector platform, lead generation platform, and low-cost branches, to reduce customer acquisition costs by 30%.
LoanKuber’s commitment to unit metrics, capital efficiency, and frugal operations has enabled it to build a profitable business since its inception. The company’s expansion plan aims to achieve an AUM of Rs 200 crores in the next 15 months.
Saurabh Nagpal, CEO, LoanKuber says, “The funds will be used to further fuel our mission of offering innovative and affordable mortgage solutions to micro-SMEs and the next half billion Indians. The current fundraising will help us further invest in the team, technology, and operations to fulfill our mission. We are not just building a mortgage lending business; we are also transforming the lives of the Next 500 million people by unlocking the economic value of semi-urban and rural properties with our mortgage solutions.”
