LoanSimple
Get Small Business Loans up to ₹5 lakhs | LoanSimple.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
N/A | Seed | ||
| Total Funding | 000k | ||
| USD | 2022 | 2023 |
|---|---|---|
| Revenues | 0000 | 0000 |
| EBITDA | 0000 | 0000 |
| Profit | 0000 | 0000 |
| EV | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 |
Source: Dealroom estimates
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LoanSimple, operating under the legal entity Unogrowth Technologies Private Limited, is a financial services firm focused on the underserved market of micro, small, and medium enterprises (MSMEs) in India. Established in 2017 by co-founders Sanny Chaudhary, Daman Kohli, and Ashutosh Kumar, the Gurugram-based company provides a digital-first platform for business financing. The firm's product suite is designed to address the working capital needs of micro-businesses, which are often excluded from formal credit systems.
The company's core offering is a line of credit accessible via a mobile application, which leverages data from UPI (Unified Payments Interface) digital payments to assess creditworthiness. This data-centric approach allows for minimal documentation and collateral-free loans, with credit lines extending up to ₹5 lacs. LoanSimple's business model combines alternative data sets and dynamic repayment schedules, where merchants make automated daily repayments from their bank accounts rather than fixed monthly installments. This structure is tailored to the cash flow patterns of small retailers and businesses.
The platform offers a range of financial products including general business loans, working capital loans, and unsecured SME loans, alongside payment and insurance solutions. By focusing on financial inclusion, LoanSimple aims to empower these businesses with the necessary capital to grow. The company has secured a total of $1.55 million in funding across four seed rounds from a mix of institutional investors and angel investors. Notable investors include Leo Capital and Purvi Capital, with the most recent funding round taking place in May 2020.
Keywords: MSME lending India, small business loans, digital lending platform, fintech India, working capital finance, business credit line, UPI-based lending, unsecured business loans, micro-enterprise financing, SME finance, LoanSimple, Unogrowth Technologies, Sanny Chaudhary, Daman Kohli, Ashutosh Kumar, financial inclusion, merchant loans, daily repayment loans, Gurugram fintech, online business loan