Chennai-based lending startup Cloudbankin has recently announced that it has raised $400,000 in funding. The funding round was led by Upekkha: SaaS accelerator and fund, and Kube VC, a prominent global venture capital firm. This injection of capital will enable Cloudbankin to enhance its AI-based low-code platform, empowering businesses with customizable workflows and pluggable integrations for different financial products.
Founded in 2021 by Mani Parthasarathy, Karthik Balasubramanian, and Karthik Srinivasan, Cloudbankin offers a comprehensive lending automation solution that streamlines the entire lending process, from origination to underwriting to servicing. Powered by advanced AI algorithms, Cloudbankin’s platform can rapidly assess a borrower’s creditworthiness and automate the underwriting process. As a result, businesses can make lending decisions more efficiently and with greater accuracy.
One of the key advantages of Cloudbankin’s platform is its flexibility and scalability. It caters to businesses of all sizes and can be easily customized to meet their specific needs. This adaptability positions Cloudbankin as an invaluable tool for businesses aiming to expand their lending operations.
The recent funding round marks a significant milestone for Cloudbankin, providing the necessary resources to accelerate its growth and extend its market reach. The company plans to utilize the funds to hire additional talent, develop new features for its platform, and explore new markets. With its strong team, proven platform, and a large addressable market, Cloudbankin is poised to become a prominent player in the lending automation industry.
Key Takeaways:
- Cloudbankin, a Chennai-based lending startup, has raised $400,000 in funding led by Upekkha and Kube VC.
- The funding will support the enhancement of Cloudbankin’s AI-based low-code platform, offering customizable workflows and integrations for financial products.
- Cloudbankin’s platform automates the lending process, from origination to underwriting to servicing, with AI-powered assessment and underwriting automation.
- The platform is flexible and scalable, catering to businesses of all sizes, and can be customized to meet specific needs.
- The funding will fuel Cloudbankin’s growth, including expanding its team, developing new features, and exploring new markets.
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