Hey there, everyone! I hope you’re ready for some amazing news because, as a proud member of the CloudBankin team, I’ve got something truly fantastic to share with all of you.
We did it! We’ve successfully raised a whopping USD 400,000 in funding! I’m practically bursting with excitement!
This incredible achievement wouldn’t have been possible without the unwavering support of our Angel investors, Upekkha: SaaS accelerator and fund, and Kube VC. We owe them a tremendous debt of gratitude for believing in our mission.
But wait, there’s more! We didn’t just have one angel investor. We were lucky enough to secure the backing of some of the most prominent Fintech Angels out there. I’m talking about the likes of
- Ramanathan RV, the CEO of Hyperface,
- Mohan Karuppiah, the CEO of IppoPay, and
- Mahendra Negi, the Head of Alliances & Partnerships (Financial Services Solutions) at a leading global technology company.
- Sundararaman, Co-Founder at Wilco Source
These incredible individuals saw the potential in what we’re doing, and their faith in our vision is what keeps us going, innovating, and growing.
Now, let me tell you why this funding round is so much more than just a financial boost for us.
With the newly secured funding, we are poised to expand our product portfolio and tackle the specific challenges encountered by larger financial institutions. Our goal is to provide a comprehensive solution that includes
- streamlined borrower onboarding leveraging AI-based low-code functionality,
- offering a unified API integration layer for all third-party service providers/aggregators,
- and data analytics/insights powered by machine learning. This strategic approach will enable us to deliver a swift and seamless lending infrastructure, ensuring a high ROI and reduced complexity.
For those of you who aren’t familiar with CloudBankin, let me give you a little taste of what we’re all about. We specialize in providing top-notch digital lending software solutions tailor-made for Banks, Urban Co-Operative Banks, NBFCs & Fintechs.
Our offerings are ranges from an ingenious low-code digital onboarding system to a state-of-the-art loan origination system (LOS) & loan management system (LMS), and enhanced credit rule engine. We’re all about making life easier for financial institutions.
And G2 Review has acknowledged us as the second most user-friendly platform in the loan origination category, highlighting our exceptional usability.
Believe it or not, we started this journey as a bootstrapped venture. But through hard work, dedication, and a sprinkle of magic, we’ve managed to build a customer base of over 50 financial institutions spanning multiple countries. India, in particular, has been a vital market for us, and we couldn’t be prouder of our accomplishments there.
- 60% annual growth rate! But that’s not all.
- Financial institutions utilising our product are able to disburse loans in under 10 minutes for unsecured loans.
Our CEO, Mani Parthasarathy, hit the nail on the head when he pointed out the complexities of the current lending landscape. “The process of onboarding borrowers is as diverse as can be, and it requires customization for different workflows and API integrations. Unfortunately, this often leads to financial institutions implementing multiple product solutions, which only adds to the complexity. Thanks to our recent funding triumph, we’re doubling down on enhancing our AI-based low-code platform. Our goal is simple yet groundbreaking: we want to provide customizable workflows and seamless integrations for a wide range of financial products, including business loans, loans against property, housing loans, gold loans, Buy Now Pay Later, and personal loans”.
And guess what? We’re not just talking the talk; we’re planning to walk the walk, make improvements and launch our platform in just three 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,” said Prasanna, Managing Partner at Upekkha.
We are looking forward to the new chapter. The CloudBankin team is buzzing with energy, ready to push boundaries in digital lending.
We are here to keep you updated every step of the way. Expect exciting progress, innovative features, and groundbreaking advancements.
So, my friends, raise your glasses to a future that’s brighter, bolder, and brimming with endless opportunities! CloudBankin is here to revolutionize the way financial institutions operate, and we want you to be part of this incredible journey.
We’re on a mission to reshape the lending landscape, and we’re inviting you to come along for the ride. Get ready, folks, because the best is yet to come!
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