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Venture Capital | 5 November 2015

Loan Marketplace LoanBaba Raises Funds

by Ahemad Shaikh
Loan Marketplace LoanBaba Raises Funds
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Mumbai based LoanBaba, a consumer lending marketplace operated by Sahas Technologies, has raised about R2.10 Cr ($320 K) in seed funding from an unnamed angel investor.

The funding will be use for enhancing its technological offerings and marketing strategis.

Founded in 2015 by Sanket Hasabnis and Satchit Hasabnis, LoanBaba is an online destination for all retail loan products. It offers an online comparison and application platform for various retail loan products like home loans, personal loans, car loans, etc.

One can also apply for loan from the LoanBaba’s android app and submit the KYC from the in-app scanner. The applier can even track the application and can chat with the selected bank or NBFC for further assistance.

Deals in space:

  • Bengaluru-based consumer lending platform, LoanCircle, had raised an undisclosed amount in angel funding from Toppr.com co-founder Zishaan Hayath, Trifecta Capital MD Rahul Khanna, Quintype CEO Amit Rathore, Amit Arora and Appiterate co-founders Anuj Bhargava and Mayank Kumar.
  • New Delhi based IndiaLends, a digital lending and borrowing marketplace, had secured about R6.5 Cr ($1 Mn) in Bridge round of funding led by existing investors DSG consumer Partners and Siddharth Parekh (partner, Paragon Partners).

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