Fintech startup Wonderlend Hubs raises $1.6 million in seed funding
- ByStartupStory | July 15, 2022
WonderLend Hubs, a provider of the platform as a service (or PaaS) solutions, has raised $1.6 million in a seed fundraising round that was co-founded by the angel investing network Inflection Point Ventures. The funds will be used to grow the company, increase staff size, and improve platform and delivery capabilities in the Indian and international markets.
PaaS, or platform-as-a-service, is a cloud computing model in which users receive hardware and software tools through the Internet from a third-party supplier. It specialises in the lend-tech and channel tech sectors and funds raised will also be utilised to finish the platform as a service transition and create a delivery excellence framework so that the company can expand at scale.
Rajesh Iyer, the CEO of the startup said, “In IPV, we discovered a partner who not only believed in our story but also assisted us in seeing a larger market than we had anticipated. As we look forward to expanding not just in India but also internationally, we are fortunate to have someone with IPV’s pedigree as one of our initial investors.”
Ankur Mittal, co-founder of Inflection Point Ventures stated, “From our perspective, Wonderlend Hubs represents a singular potential that is greater than the sum of its components. The synergy in their target areas creates enormous cross-sell potential, which they are well-positioned to take advantage of, even if their LPaaS and ICM PaaS offerings are significant, intriguing independent opportunities. They have already shown market validation of all three dimensions by what they have accomplished, even on a shoestring budget.”
About Wonderlend:
WonderLend Hubs is a no-code PaaS solutions provider that was founded by Ram Ramdas and Rajesh Iyer. It is developed and deployed as a no-code platform with a flexible “pay as you expand” pricing model. The business wants to make it possible for lenders and originators, particularly those with a “Bharat Credit Market” focus, to quickly scale up mass-customized loan products.
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