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Cloudbankin Team
Chennai-based digital lending software startup Cloudbankin has raised $400,000 in a funding round led by angel investors, Upekkha, SaaS accelerator and fund, and Kube VC – a global venture capital firm.
Angel investors, including Ramanathan RV, CEO at Hyperface, Mohan Karuppiah, CEO at IppoPay, and Magendra Negi, Head of Alliances & Partnerships (Financial Services Solutions) participated in the round.
Started as a bootstrapped startup, Cloudbankin said it provides a comprehensive digital lending software solution tailored for financial institutions.
The startup's key offerings encompass low-code Digital Onboarding, Loan Origination System, Loan Management System and Business Rule Engine.
Mani Parthasarathy, 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.”
The startup claims to have built a robust customer base of more than 50+ financial institutions from multiple countries. It also claims to have achieved a 60% annual growth rate.
“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,” said Prasanna, Managing partner at Upekkha.
The founding team comprises Mani Parthasarathy (CEO), Maieenah Rajah (CRO), Alex Anto Navis (CTO), Hariharan in charge of Product, and Palanisami as the Techno-functional Consultant.
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