Hotline: 1800 102 2007
X
Search Business Opportunities
May, 01 2018

Online lender MyLoanCare gets backing from SAR Group’s VC arm

SAR Group is primarily engaged in water purifiers (Livpure), clean tech, and automotive batteries (Livguard).

Online loans marketplace MyLoanCare, which is owned and operated by My Finance Care Advisors Pvt. Ltd has raised Rs 6.5 crore ($978,000) in a Series A round of funding from Ncubate Capital Partners, the venture capital arm of Gurugram-headquartered SAR Group.

SAR Group is primarily engaged in water purifiers (Livpure), clean tech, and automotive batteries (Livguard).

Gaurav Gupta, MyLoanCare’s chief executive officer said the company plans to primarily use the fresh funds for branding and the rest for improving technology.

Investment banker Gaurav Gupta and process technology and automation expert Deepak Gupta had founded MyLoanCare in 2013.

It has tied up with banks and financial services companies to offer borrowers a digital platform to compare, select and apply for online loans for purposes such as housing, gold, personal etc.

The company claims to be among the top four online loans marketplaces in the country.

In 2015, MyLoanCare had raised Rs 1.5 crore in an angel funding back, Gupta said.

The firm also plans to enter new segments of the market including cards, savings, and investments.

Ncubate Capital Partners invests in early-stage ventures. Its parent, SAR Group, was founded in 1988 by Navneet Kapoor and Rakesh Malhotra.

Comment
Related opportunities
  • Manufacturing & Ancillary
    About:   Wintex is a leading brand in tissue paper products which..
    Locations looking for expansion Delhi
    Establishment year 1982
    Franchising Launch Date 2018
    Investment size Rs. 1 Cr. - 2 Cr
    Space required 7000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Designer
    About Us: Established in 1990, Catwalk Worldwide Private Limited is India’s..
    Locations looking for expansion Delhi
    Establishment year 1990
    Franchising Launch Date 2015
    Investment size Rs. 5lac - 10lac
    Space required 150
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Electric Vehicles (E-Vehicles)
    About Us: Chairman of our Group, Mr. JR Gupta founded ACT..
    Locations looking for expansion Punjab
    Establishment year 2018
    Franchising Launch Date 2018
    Investment size Rs. 5lac - 10lac
    Space required 400
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Ludhiana Punjab
  • Womens Wear
    About: Asha Gautam is an established designer label by renowned designers-..
    Locations looking for expansion Delhi
    Establishment year 1998
    Franchising Launch Date 2017
    Investment size Rs. 30lac - 50lac
    Space required 450
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities