Bengaluru-based fintech startup Yenmo has raised Rs 9.2 crore in a funding round led by Y Combinator, with participation from Pioneer Fund, Zaka VC, and other angel investors. The fresh capital will fuel the company’s expansion into new secured lending products, enhance its technology, and scale operations.
Founded in 2022 by Ashutosh Purohit and Aryan Agarwal, Yenmo offers instant loans against mutual funds, aiming to make credit more accessible and affordable. Unlike traditional personal loans, which often come with interest rates exceeding 30%, Yenmo provides loans at a significantly lower rate of 10.5%. The startup is now expanding into secured credit products over stocks, insurance, and digital assets.
With a fully digital loan application process through its Android and iOS app, Yenmo ensures quick disbursals while maintaining personalized support from human advisors, rather than automated bots. It has also introduced a savings account feature, combining higher interest earnings with on-demand liquidity.
Yenmo is on a mission to make loans a tool for financial empowerment rather than a burden. As it continues to grow, the startup remains committed to ethical lending practices and customer-centric product design.
