CoinTribe, an online lending marketplace specialised for MSMEs, has raised $10 million in Series-B round funding led by Sabre Partners. Existing investor Puneet Dalmia also participated in this round. The company said that it will use the newly raised capital to enhance its credit algorithm, product development as well as market expansion.

With the current fundraising, CoinTribe has raised over $15 million in total equity funding to date. The startup previously raised Series A funding of $ 5 million in 2015.

Founded in 2015 by Amit Sachdev, Manish Chaudhari, Manish Chaudhari and Rohit Lohia, CoinTribe offers unsecured term as well as working capital financing to MSMEs. The platform connects MSMEs to potential lenders (Banks and NBFCs) so that they can avail loan between Rs 1 lakh to 50 lakh for the tenure of 12 – 36 months, with interest rate of 16% and above.

CoinTribe has so far partnered with leading banks and NBFCs, which include Axis Bank, Yes Bank, RBL Bank, DBS, IIFL, Clix Capital and SMC Capital. Apart from lending through the marketplace, CoinTribe’s technology platform is being used by 4 private and foreign banks on a white labelled basis.

Speaking on the development, Amit Sachdev, Co-Founder and CEO said, “At CoinTribe, we have developed a differentiated business model with strong focus on low capital and low risk, positive unit economics and capabilities in credit and technology. Our model has been well recognized by leading financial institutions, who have chosen to partner with us after detailed due diligence of our capabilities. We remain committed to our partners and this funding will help us further strengthen and scale up our marketplace operations. Going forward, we will benefit significantly from Sabre Partners’ rich experience and knowledge of Financial Services space.”

With its robust online credit risk assessment capabilities and lending Bank partners, CoinTribe competes with other players such as LoanTap, LendingKart, Paysense, Rubique and others. The startup claims to be disbursing Rs 20 crore every month and is targeting to disburse Rs 600 crore by the end of the current financial year.

Sabre Partners, founded by Rajiv Maliwal, has invested over $300 million in India in HCG Hospitals, Thyrocare, Oyster & Pearl, Vyome Biosciences, Portea, DCB Bank, including several other companies.

SEE ALSO: XBox One will soon support Alexa and Google Assistant

Abhishek is a startup ninja who has spent his time meeting entrepreneurs and helping them tell their stories efficiently. You can find him biking around in his past time. Based out of New Delhi, he is a geek at heart, gadgets are his toys and internet technology is what keeps him going. Email: