LoanKuber Raises $2 Million From IPV

Updated on: 18 February 2023 8:33 pm

A two-member NCLAT bench headed by Chairperson Justice Ashok Bhushan on Friday said it will start day-to-day hearing of the matter from February 23, the next date of hearing

CCI Order An Unfair Imposition, Rival Apps Not Restricted: Google To NCLAT Photo: A two-member NCLAT bench headed by Chairperson Justice Ashok Bhushan on Friday said it will start day-to-day hearing of the matter from February 23, the next date of hearing

New Delhi-based start-up LoanKuber bagged $2 million in a Series A funding round led by Inflection Point Ventures (IPV). Apart from IPV, Accolade Holdings, LetsVenture and other angel investors like Prashant Tandon, Pankaj Vermani and Vishal Gupta also joined the round.

The start-up, which offers mortgage loans to MSMEs, will utilise the newly generated fund to scale its business operations. Additionally, the company will hire new skilled staff to strengthen its team.

Prior to this, LoanKuber raised $1.25 million in a pre-Series A funding round led by LetsVenture, AngelList India and Accolade. It also bagged nearly $1.7 million in a round led by LetsVenture and IPV.

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Talking about the latest development, Saurabh Nagpal, the co-founder and chief executive officer (CEO), said, “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 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 that exists today in the Indian MSME sector,” said Mitesh Shah, the co-founder at Inflection Point Ventures.

Founded in 2018 by Shah, Vinay Bansal and Ankur Mittal, IPV is an angel investing platform that has invested Rs 550 crore across 140 deals. It also launched a $50 million venture capital (VC) fund to invest in pre-Series A and Series B start-ups.