Algebrik AI, a New York-based cloud-native and AI-powered digital-era loan origination system (LOS) company, has raised $4 million in Series A funding. 

Investors 

The investors in this round were not disclosed. 

Algebrik AI Use of Funds 

The company will use the funding to accelerate the development of its innovative lending technology. The investment will be disbursed in two phases to support product enhancements and market expansion. 

About Algebrik AI 

Founded by Pankaj Jain, Algebrik AI offers a cloud-native and AI-powered digital-era loan origination platform (LOS), designed for the next generation of members and consumers. Algebrik empowers credit unions, mid-tier banks, and lenders of all sizes to attract, engage, grow, and retain next-generation members and consumers. By transforming loan origination end-to-end, Algebrik helps these institutions remain competitive in today’s digital landscape. 

Funding Details 

Company: Algebrik AI Inc. 

Raised: $4.0M 

Round: Series A 

Funding Date: November 2024 

Investor: Undisclosed 

Company Website: https://www.algebrik.ai/  

Software Category: AI Lending 

Source: https://www.businesswire.com/news/home/20241104357477/en/