back Back

Cloudbankin a lending SaaS startup raises $400K

By Leandra Monteiro

June 14, 2023

  • BNPL
  • Cloudbankin
  • Digital Lending
Share

CloudbankinCloudbankin, a complete end-to-end digital lending software company headquartered in Chennai, India, announced, it has successfully raised $400K in funding.

The funds were raised from Upekkha – a SaaS accelerator and fund, and Kube VC – a global venture capital firm. FinTech angel investors including Ramanathan RV, CEO at Hyperface, Mohan Karuppiah, CEO at IppoPay and Mahendra Negi, Head of Alliances & Partnerships (Financial Services Solutions), from a Global Technology company extended their support and participated in the funding round.

The infusion of funding enables Cloudbankin to extend its product portfolio, addressing challenges faced by larger financial institutions. The company aims to offer a comprehensive solution encompassing streamlined borrower onboarding with AI based low-code functionality and a unified API integration layer for all the third-party service providers/aggregators, data analytics/insights using Machine learning which can deliver on its vision to provide a swift and seamless lending infrastructure with high ROI and reduced complexity.

Commenting on the announcement, Mani Parthasarathy, Co-Founder and CEO of Cloudbankin, said, “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 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.

Previous Article

June 14, 2023

OneVest secures $17m to enhance wealth management experience

Read More
Next Article

June 14, 2023

Chase joins the Current Account Switch Service for UK consumers

Read More






IBSi Daily News Analysis

cybersecurity,

June 20, 2024

BNPL

Why predictive AI is a critical necessity in the field of cybersecurity

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

June 20, 2024

Natwest snaps up Sainsbury’s banking business in £2.5b deal

Read More

June 20, 2024

DZ Bank taps Surecomp for Collaborative Trade Finance Platform

Read More

June 20, 2024

First Abu Dhabi Bank bolsters CLM operations with Fenergo

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023