KNAB Finance Advisors Pvt. Ltd secures more than Rs 2.5 crore in a two recent round of funding. The fin-tech startup provides funding services to small and medium sized firms for their working capital needs.
Major investors that took part in the funding are InCred NBFC, and individual investors like Ravi Bhardwaj, senior vice president in Sharjah Islamic Bank, KrishnaKumar Natrajan chairman in MindTree and others.
Most of our investors come from financial institutions, KNAB Finances co-founder Mandeep Chaudhary said.
We actively started disbursing loans in January 2017. After receiving our NBFC license, we held ourselves back for two months due to demonetisation, Chaudhary added.
The firm provides short term loans which it aims to close the same within a month and general average transaction size of loan disbursal is Rs 6 crore. Till date company has successfully granted Rs 10 crore worth loans.
We give loans to customers of the ecosystem every month. Some of our partners are Treebo Hotels, Paytm and M-Swipe, among others, Chaudhary added.