Yenmo, a Y Combinator-backed fintech startup offering instant loans against mutual funds, has secured ₹9.2 crore in funding. The round was led by Y Combinator, with contributions from Pioneer Fund, Zaka VC, and several global angel investors.
This fresh capital will enable Yenmo to expand its secured lending portfolio, adding loans against stocks and introducing high-interest savings account features with liquidity benefits. Additionally, the company aims to enhance its technology, ensuring a seamless 10-minute loan application process while scaling operations and strengthening its team.
“Many borrowers experience harassment and data misuse. At Yenmo, we are dedicated to ethical lending that prioritizes transparency and customer well-being,” said Ashutosh Purohit, CEO and Co-founder of Yenmo. “With this funding, we will broaden our product offerings and build an in-house lending stack that eliminates predatory practices.”
Yenmo’s loan offerings stand out with competitive interest rates as low as 10.5%, significantly lower than traditional personal loans that can exceed 30%. The company remains committed to making credit accessible, affordable, and empowering for borrowers. Its digital lending services are available via Android and iOS apps.
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