MyLoanCare Closes Series A Funding worth 6.5 crore from SAR Group

Gurgaon based Fintech player MyLoanCare has received Rs. 6.5 crs in equity funding from Ncubate Capital Partners, a private investment arm of SAR Group family office.

Within 4 years of operations MyLoanCare has emerged as the fourth largest loans marketplace in India, and currently the only profitable platform

MyLoanCare.in, India’s only profitable B2C online loans marketplace, has emerged as a unique preference for both lenders and borrowers on the back of its technology led loan matching concept that helps connect borrowers avail loans seamlessly from most suitable lenders. With a fresh loan query generated every 30 seconds, 22 lending partners and reach across 1,200 locations in the country, MyLoanCare is among India’s top four online loans marketplaces.

The 4 year old company founded by former investment banker Gaurav Gupta and process technology and automation expert Deepak Gupta has tied up with leading banks and finance companies in India to offer retail borrowers a convenient digital platform to compare, select and apply online loans such as personal loan, home loan, gold loan, business loan, loan against property and auto loan with ease and transparency.

Company plans to invest the funds raised for branding, technology augmentation and growth. MyLoancare also plans to enter new segments of the market including cards, savings and investments.

SAR Group, led by entrepreneurs Mr. Rakesh Malhotra and Mr. Navneet Kapoor, is among the leading players in Water purifiers, clean tech and automotive batteries segments. The Group has deep experience in building retail brands and is expected to help the company emerge as the platform of choice for both borrowers and lenders in India.