Mannjal, a full-stack lending platform, raised Rs 17.5 crore ($2.1 million) in a seed round headed by Arali Ventures and B Capital, with participation from Sparrow Capital and Gemba Capital.
Key Highlights
- Mannjal raises ₹17.5 crore in seed round led by Arali Ventures and others.
- Funds will scale Mannjal’s full-stack lending platform, expand its lender network and accelerate product development.
The revenues will be utilized to extend the lender network and speed up product development.
Mannjal, founded in 2023 in Bengaluru by Prashant Adurty, Aman Bhargava, and Harshit Lingamneni, is a full-stack lending platform that enables financial institutions to distribute priority-sector and impact-linked credit products on a large scale.
The startup provides infrastructure for field operations, origination, and credit decisioning. It allows lenders to conduct digital and physical data journeys, supplement borrower profiles with external information sources, and organize data for analysis and decision support.
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Institutions can create customized workflows for teams in risk, operations, and business areas. According to the business, lenders utilizing Mannjal have decreased turnaround times by 50-75% and increased sanction ratios to 85-90%.
Mannjal's platform claims to have disbursed about Rs 1,000 crore in unsecured company loans, loans against property, and affordable housing finance over the last 18 months. The organization now works with over 75 lenders.
