Cloudbankin, a Chennai, India-based digital lending software company, secured $400,000 in a funding round from Upekkha, a SaaS accelerator, and fund, and Kube VC, a global venture capital firm.
Notable FinTech angel investors, including Ramanathan RV (CEO at Hyperface), Mohan Karuppiah (CEO at IppoPay ), and Mahendra Negi (Head of Alliances & Partnerships Financial Services Solutions), also participated in the round.
The newly acquired funds will enable Cloudbankin to expand its product portfolio, specifically targeting the challenges faced by larger financial institutions.
The company aims to provide a comprehensive solution that encompasses streamlined borrower onboarding through AI-based low-code functionality, as well as a unified API integration layer for third-party service providers and aggregators.
Mani Parthasarathy, Co-Founder and CEO of Cloudbankin, said, “Current lending landscape for borrower onboarding is very heterogeneous and requires customization for different workflows/api integrations, which forces to implement multiple product solutions for a financial institution causing more complexity. With this funding, we will enhance our AI-based low-code platform to enable customizable workflows and pluggable integrations for different financial products such as business loans, loans against property, housing loans, gold loans, buy now pay later, and personal loans, and launch it in 3 weeks.”
Company: Habile Technologies Private Limited
Raised: $.40K
Round: Unknown
Funding Month: June 2023
Lead Investors: Upekkha and Kube VC
Additional Investors: Ramanathan RV, Mohan Karuppiah, and Mahendra Negi
Company Website: https://habiletechnologies.com/
Software Category: Digital Lending Software Solution
About the Company: Cloudbankin is a comprehensive digital lending software solution designed specifically for financial institutions. The software provides seamless and scalable integration. It automates the process and furnishes configurable workflow management. Its major solutions include low-code digital onboarding, loan origination, loan management, and the business rule engine.
Source: https://ibsintelligence.com/ibsi-news/cloudbankin-a-lending-saas-startup-raises-400k/