Yenmo, which specializes in providing loans against stocks and mutual funds, gives Indian investors more power by allowing them to borrow money in less than five minutes at a fixed interest rate of 10.5%. Investors have the convenience of choosing which assets to leverage, viewing all of their investments in real-time, and receiving money straight into their bank accounts. With this creative strategy, customers may take care of their short-term financial requirements without jeopardizing the long-term growth of their investments.

It is anticipated that Yenmo's ambitions to expand its product line would heavily rely on the money raised in this most recent round. Ashutosh Purohit, the CEO and co-founder of Yenmo, claims that the company plans to make a variety of lending choices that were previously exclusive to high-net-worth individuals available to all Indian consumers. This entails extending its present range of services to include insurance, digital gold, land, and even loans secured by stocks.

Ashutosh Purohit voiced his worry about the $30 billion that ordinary investors withdraw from equities mutual funds each year to cover unforeseen expenses. He supports Yenmo's approach, pointing out that borrowing against mutual funds is a more prudent way to protect and increase investments. He contends that this strategy not only protects the investment but also has the potential to boost investors' financial gains.

Yenmo is expanding its platform with a full-stack API solution in addition to its core offerings. This increases Yenmo's influence on the financial technology market by enabling other businesses to easily incorporate loans secured by mutual funds into their offerings.

"We aim to introduce a suite of lending options that were previously accessible only to high net worth individuals, now available to every Indian consumer," stated Ashutosh Purohit, CEO of Yenmo.