Gurgaon-based fintech startup Loan Frame Technologies Pte Ltd has raised $2.25 million (Rs 15.3 crore) in seed investment led by Vedanta Capital, a top company executive told Techcircle.
Other investors who participated in the round include William Campbell, former chairman of Chase Card Services, and Toos N Daruvala, co-CEO of MIO Partners, Inc., McKinsey Investment Office.
Loan Frame provides a range of products to small and medium-sized businesses (SMBs), including secured and unsecured loans worth Rs 5 lakh-50 crore. It uses machine learning algorithms to assess, validate, verify and match SMBs with the right capital.
Loan Frame was founded by Shailesh Jacob, Rishi Arya, and Akshun Gulati in 2015. Jacob was previously part of the core management team at financial research and analytics firm Copal Partners, which was backed by investors such as Deutsche Bank, Bank of America Merrill Lynch and Citigroup. It was later acquired by Moody’s Corporation in 2011, making it part of Moody’s Analytics.
Arya, who is CFO at Loan Frame, has previously managed investments at listed banks and NBFCs for Canara HSBC OBC Life, a fund with assets under management…