New Delhi, March 7 -- Yenmo, a Y Combinator-backed company, has raised Rs 9.2 crore (over $1 million) in a funding round led by Y Combinator, with participation from Pioneer Fund, Zaka VC, and several angel investors.
The new funding will enable Yenmo to expand its product offerings, including the introduction of new secured lending products and a savings account feature that provides higher interest rates and improved liquidity access. Further, Yenmo plans to enhance its digital platform to ensure a seamless 10-minute loan application process. The company aims to accelerate market growth by reaching more customers while strengthening its operations through infrastructure expansion and building a skilled team.
CEO Ashutosh Purohit said the funding will allow the company to broaden its product portfolio and develop a comprehensive in-house lending stack, covering everything from underwriting to disbursal.
Published by HT Digital Content Services with permission from VC Circle.