LoanKuber, a digital mortgage platform focused on micro, small and medium enterprises (MSMEs), has raised $1.25 million as part of its ongoing pre-Series A round from LetsVenture, AngelList India and Accolade.
The fresh capital will be used to hire talent and enhance tech stack. The firm aims to grow assets under management to Rs 75 crore in the next 12 months. It is aiming to onboard 1,000 MSMEs in the next 12 months as part of its expansion plan.
“The funding would enable us to accelerate our mission of providing affordable and transparent mortgage finance to MSMEs, we would strive to achieve our social goals while balancing both growth and profitability that are required to build a large impact-focused financial institution,” Saurabh Nagpal, CEO of LoanKuber, said in a statement.
Founded by Nagpal in 2016, the firm provides mortgage loans from Rs 3-10 lakh to MSMEs and semi-skilled professionals.
Blowhorn, a last-mile logistics provider, has raised an undisclosed amount in a financing round from Symphony International Holdings Ltd. The round also saw existing investors Chiratae Ventures, Draper Associates, and Michael and Susan Dell Foundation.
The new round will be used to expand the firm’s network. The Bengaluru-headquartered company provides transportation, warehousing and integrated systems.
“We are not only excited to be partnering with the team behind Symphony International Holdings Ltd, who bring their experience of the Asian logistics sector, but we are also pleased to have included a number of our existing investors in this round of funding,” said Mithun Srivatsa, CEO of Blowhorn, in a statement.