Janasha Finance, operating under the brand LoanKuber, has raised $ 2.5 million in a debt funding round. It was led by institutional lenders AU Small Finance Bank, Northern Arc Capital, and Vivriti Capital.
The new funds will help expand the RBI-registered NBFC’s assets under management (AUM), currently at approximately Rs 80 crore, and bolster its technological capabilities and team strength.
To inculcate financial inclusion, Janasha Finance has built an automated institutional co-lending platform for mortgages, allowing for competitive pricing for the end customer while generating higher yields on its own NBFC balance sheet.
The company has created hybrid acquisition channels that include a digital connector platform, a lead generation platform, and low-cost branches that reduce customer acquisition costs by up to 30 percent, according to a company statement.
Saurabh Nagpal, founder and CEO of LoanKuber, said, “We are committed to empowering the underserved MSMEs and plan to onboard 5,000 MSMEs over the next 18 months as a part of our expansion strategy. In the process, we are also eyeing a profit of Rs 8–10 crores in FY25 for our shareholders.”
Previously, the company raised $4 million in funding. The Series A round was announced in early 2023 with participation from Inflection Point Ventures, Auxano Accolade Holdings, LetsVenture, PS1 Ventures, Mavuca Capital, Angellist, and marquee angel investors, including Prashant Tandon of 1Mg, Pankaj Vermani of Clovia, Ramit Sethi, and Vishal Gupta of TA Associates. Prior to that, it raised a pre-Series A round in 2021 from IPV, LetsVenture, AngelList India, and Accolade.
