Mortgage lender Loan Kuber raises $3.5 million in funding
Mortgage lender Loan Kuber has raised $3.5 million in a funding round led by Singapore-based venture capital firm TRTL Ventures and existing investor Inflection Point Ventures.
The round, a mix of equity and debt, also saw contributions from Auxano, LetsVenture, Mavuca Capital, and prominent angel investors including Ruchi Deepak of Acko, Prashant Tandon of 1mg, and Pankaj Vermani of Clovia.
With this fresh infusion, LoanKuber's post-investment valuation now stands at $27 million.
The new funds will be utilised to expand LoanKuber's assets under management (AUM) from the current Rs 93 crore to Rs 180 crore over the next 12 months. Additionally, the funds will be used to support the company's technological infrastructure and enhance its leadership team.
Founded in 2017 by Saurabh Nagpal and Saumya Nagpal, LoanKuber is a non-banking finance company (NBFC) specialising in mortgage loans for micro, small, and medium enterprises (MSMEs) and semi-skilled professionals, particularly in underserved regions of the country. The company offers loan amounts ranging from Rs 3 lakh to Rs 8 lakh.
Currently, 70% of LoanKuber's customers have a monthly household income of less than Rs 50,000.
“The social sector is complex, and driving meaningful change in underserved communities requires more than just financial resources. It demands a deep understanding of the unique challenges these communities face,” said Nagpal.
“This fresh infusion of capital will help us scale our efforts, set up new branches and penetrate deeper into
