Cloudbankin, a complete end-to-end digital lending software company headquartered in Chennai, Tamil Nadu, announced it has successfully raised $400K in funding from Angel investors, Upekkha, SaaS accelerator and fund, and Kube VC – a global venture capital firm.
Prominent Fintech angel investors including Ramanathan RV, CEO at Hyperface, Mohan Karuppiah, CEO at IppoPay and Magendra Negi, Head of Alliances & Partnerships (Financial Services Solutions) from one of the leading Global Technology companies extended their support and participated in the funding round, the statement said.
Commenting on the announcement, Mani Parthasarathy, CEO of Cloudbankin, expressed, “Current lending landscape for borrower onboarding is very heterogeneous and requires customisation 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 customisable workflow and pluggable integrations for different financial products such as Business loans, Loan Against Property, Housing Loans, Gold loans, Buy Now Pay Later and Personal loans and launch it in 3 weeks.”
“At Upekkha, we’re excited to invest in Cloudbankin, a pioneering Fintech SaaS startup. It’s been impressive watching Cloudbankin revolutionize the lending space. As the India’s Fintech revolution picks up pace, Cloudbankin will help many BFSI companies go fully digital. Today’s customers are demanding, and companies which implement Cloudbankin will have a competitive advantage” commented Prasanna, Managing partner at Upekkha.
