Fintech startup LoanKuber raised $2 million in Series A funding round led by Inflection Point Ventures where Accolade Holdings, LetsVenture, and angel investors, including Prashant Tandon of 1Mg, Pankaj Vermani of Clovia, and Vishal Gupta of TA Associates also participated.
LoanKuber provides mortgage-based financing to small and medium-sized businesses. LoanKuber plans to use the new funds to improve its existing technology stack and expand its team. The startup will also invest money to expand its asset management business (AUMAlmost a year ago, LoanKuber raised INR 13 Cr in a Pre-Series A round led by Lets Venture, with participation from Inflection Point Ventures. As per a report, the country’s fintech industry is set to become a $1.3 trillion space by 2025. The industry will expand at a 31% CAGR by the forecasted period (2025). Of this, lendingtech will capture 47% or $616 billion by 2025.