Indian Yenmo has raised $1.1 million to build India’s first Good Loan Company. The round was backed by Czech ZAKA VC, Pioneer Fund, Team Ignite Ventures, Y Combinator, and angels.
About Yenmo
-
Yenmo is an Indian fintech startup, founded by Ashutosh Purohit and Aryan Agarwa. It offers instant loans secured by investments.
-
Users can obtain funds in under 5 minutes at a fixed rate of 10.5% without liquidating their assets. The platform targets India's 65 million investors and was founded by Ashutosh Purohit and Aryan Agarwal.
“Our motto is always providing low cost loans, not asking for unnecessary data or permissions from our customers and having a customer support team that is always respectful,” says Ashutosh Purohit, founder and CEO of Yenmo.
Investment details
The round was backed by Czech ZAKA VC, Pioneer Fund, Team Ignite Ventures, Y Combinator, as well as angel investors including Olivier Porté and Laurent Benhamou.
-
ZAKA VC is one of the most active family offices in Europe. The company invests in idea-stage, pre-seed and seed tech startups all around the world while focusing primarily on the UK, DACH, Baltic and CEE region. Its main investment focus is on cross-sectional application of AI in B2B, biotech, and health tech.
-
ZAKA’z recent portfolio includes Spanish platform Webel, German startup ExoMatter, as well as American biotech companies Lime Therapeutics and Eigen Therapeutics.
With the fresh funding, the startup aims to expand its product offerings, enhance its technology, and continue building a platform that prioritizes financial well-being over everything else.
