Alcoholic-beverage company Loca Loka and instant loan platform Yenmo have secured early-stage funding, the companies said Friday.
Loca Loka, Singapore-based AlcoBev company, has raised $12.5 million from a Singapore-based family office. It didn't name the family office.
The fresh infusion will help the company to drive R&D and accelerate its global expansion, it said in a statement.
Loca Loka is a joint venture among Indian actor Rana Daggubati, music composer Anirudh Ravichander, and Harsha Vadlamudi.
Launched in the US in August last year, the tequila brand is expanding from Los Angeles, New York, and New Jersey to cities like Dallas, Chicago, San Diego, Tampa, and Jacksonville. The brand has also entered Southeast Asia via Singapore.
In 2025, Loca Loka plans to expand to the UK, India, Dubai, London, the Philippines, and Indonesia, as well as key US markets like Las Vegas, Miami, and Washington DC.
Yenmo, a Y Combinator-backed company, has raised Rs 9.2 crore (over $1 million) in a funding round led by Y Combinator, with participation from Pioneer Fund, Zaka VC, and several angel investors.
The new funding will enable Yenmo to expand its product offerings, including the introduction of new secured lending products and a savings account feature that provides higher interest rates and improved liquidity access.
Further, Yenmo plans to enhance its digital platform to ensure a seamless 10-minute loan application process. The company aims to accelerate market growth by reaching more customers while strengthening its operations through infrastructure expansion and building a skilled team.
CEO Ashutosh Purohit said the funding will allow the company to broaden its product portfolio and develop a comprehensive in-house lending stack, covering everything from underwriting to disbursal.
