Mortgage brand LoanKuber, which runs Janasha Finance, has raised $3.5 million in a pre-Series B funding round led by Singapore-based TRTL VC and existing investor Inflection Point Ventures.

The round also included contributions from Auxano, LetsVenture, Mavuca Capital, and angel investors such as Ruchi Deepak (co-founder of Acko), Prashant Tandon (co-founder of 1mg), and Pankaj Vermani (co-founder of Clovia).

In February of last year, the startup secured $2 million through a Series A round that was spearheaded by Inflection Point Ventures among other investors. As for its current funding total, it has amassed an impressive $13 million thus far.

The funds generated will serve to increase its assets under management (AUM), presently valued at around Rs 93 crore. Furthermore, it will be utilized for enhancing the firm's technological infrastructure and reinforcing its executive team.

LoanKuber, which was established by Saurabh Nagpal in 2017, offers tailored mortgage loans to underprivileged MSMEs. It prides itself on creating an automated co-lending system for micro-mortgages with institutional partners. This enables LoanKuber to offer competitive pricing for customers at the same time as generating a considerably higher return on its own NBFC balance sheet.

By implementing a digital connector platform, lead generation platform, and low-cost branches in their acquisition strategy, the company successfully decreased customer acquisition costs by 30%.

LoanKuber's profitability from inception can be attributed to its emphasis on unit metrics/capital efficiency and economical operations.

LoanKuber aims to expand its AUM by roughly Rs.180 crore within the next year, with a current net worth of approximately Rs.51 crore.