LoanKuber in Pre-Series A round raise Rs. 13 cr to get 1000 MSMEs onboard in 12 months

Bengaluru, 7 Dec (KNN) LoanKuber, MSME lending platform has raised INR 13 crore in Pre-Series A round steered by Lets Venture and with participation from Inflection Point Ventures and other investors.

As per a news report by Business Standard, it will use the proceeds towards building and expanding the team, enhancing the existing tech stack and growing its loan book to INR 75 crore in the next 12 months.

As a part of its expansion plan, it aims to onboard 1,000 MSMEs on its platform in the next 12 months.

The Co-founder of Inflection Point Ventures, Mitesh Shah said, “We know that banks are not designed to lend to a majority of the population who often fall in the trap of shady loan apps or sharks who levy high interest rates and indulge in unethical practices.”

“We believe MSME lending is still an untapped market and LoanKuber has built the right tech stack to roll out their services for this segment,” he added.

MSMEs can take loans against owned residential collateral under this platform.

The company co-lends with larger financial institutions and is currently operational in 10 locations across NCR such as Delhi, Gurgaon, Noida, and Faridabad, among others.