Social Lending Technologies, which operates a digital mortgage platform for micro, small and medium enterprises (MSME) LoanKuber, on Friday said that it has raised $1.25 million as part of an ongoing bridge round of funding dubbed pre-Series A.
The funding round saw participations from LetsVenture, AngelList India and Accolade, as per a statement.
Prior to this, the company had raised a seed round of funding at $1 million in 2018.
Founded in 2016 by IIT Delhi and New York University alumnus Saurabh Nagpal, LoanKuber provides mortgage loans from Rs 3-10 lakh to MSMEs, semi- skilled professionals and everyday services for business expansion.
“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,” Nagpal, who had earlier worked with Lehman Brothers, Nomura and Barclays, said.
Catbus Infolabs, parent operator of last-mile logistics service Blowhorn, on Friday said it has raised a fresh round of funding from new investor, Symphony International Holdings, existing investors Chiratae Ventures, Draper Associates, and Michael & Susan Dell Foundation, among others.
The fresh capital, an undisclosed amount, will go towards supporting Blowhorn’s network expansion plans, enabling them to extend their geographical reach across India and serve a wider customer base, as per a statement.
“Our aim is to disrupt the last-mile logistics sector in India through scaling up our network operations so that we are able to reach every pin-code in the country with the speed that every delivery deserves,” Blowhorn CEO, Mithun Srivatsa, said.
The Bengaluru-based Blowhorn, a same-day intra-city last-mile logistics provider, offers transportation, warehousing and an end-to-end supply chain process management technology.
Currently, it serves over 70 cities across India.