Mortgage lender LoanKuber has successfully raised $3.5 million in a recent funding round, which was led by Singapore-based venture capital firm TRTL Ventures and included participation from existing investor Inflection Point Ventures. The round, consisting of both equity and debt, also attracted investments from Auxano, LetsVenture, Mavuca Capital, and several prominent angel investors.
With this latest funding, LoanKuber’s post-investment valuation has reached $27 million. The company plans to use the new capital to expand its assets under management (AUM) from Rs 93 crore to Rs 180 crore over the next year. Additionally, the funds will support the enhancement of LoanKuber’s technological infrastructure and the strengthening of its leadership team.
Founded in 2017 by Saurabh and Saumya Nagpal, LoanKuber is a non-banking finance company (NBFC) that specializes in providing mortgage loans to micro, small, and medium enterprises (MSMEs) and semi-skilled professionals, particularly in underserved regions. The company offers loans ranging from Rs 3 lakh to Rs 8 lakh, with 70% of its customers having a monthly household income of less than Rs 50,000.
LoanKuber aims to use this fresh infusion of capital to scale its operations, open new branches, and deepen its presence in semi-urban communities in Delhi, Uttar Pradesh, and Haryana. By the end of the fiscal year, the company is targeting an annual revenue of Rs 38 crore and a projected net profit of Rs 6 crore.
This latest funding round brings LoanKuber’s total capital raised to over $13 million. In 2023, the company secured $2 million in funding from Inflection Point Ventures.