Loan marketplace platform LoanKuber has raised a pre-Series A round of Rs 13 crores led by Lets Venture which saw participation from Inflection Point Ventures among other investors.
LoanKuber said it will use the proceeds towards building and expanding the team, enhancing the existing tech stack, onboarding 1000 MSMEs and rapidly growing its loan book to Rs 75 crore in the next 12 months.
Founded in 2017 by Saurabh Nagpal, LoanKuber is a digital-first automated mortgage platform enabling mortgage lending MSMEs against owned residential collateral.
The New Delhi-based is currently operational in 10 cities across NCR including Delhi, Gurgaon, Noida, Faridabad, Pilkhuwa, Hapur, Sonipat, Muradnagar, Baghpat and Modinagar.
The deal is Inflection Point Venture’s 44th deal for 2021, keeping them on track to invest Rs 155 crores across 60 startups by the year end.