Small businesses-focussed mortgage lender LoanKuber has raised Rs 13 crore in a pre-Series-A funding round led by Lets Venture and Inflection Point Ventures. LoanKuber will use the proceeds to hire more talent, enhance the existing tech stack and grow the loan book, a statement said.
It is an automated platform, enabling mortgage lending micro-SMEs against owned residential collateral. The automated platform enables it to lend with larger financial institutions, allowing them to be a low-cost mortgage lender to regional MSME lenders.
LoanKuber is currently operational in 10 cities across NCR, its founder Saurabh Nagpal said.