Lending SaaS Startup ‘Cloudbankin’ Raises $400K Funding from Angel Investors

• ByStartupStory     |    June 14, 2023

Cloudbankin, a Chennai-based digital lending software company, has successfully secured $400K in funding from prominent angel investors, including Upekkha, SaaS accelerator and fund, and global venture capital firm Kube VC.

The funding round saw participation from notable fintech angel investors, such as Mr. Ramanathan RV, CEO at Hyperface, Mr. Mohan Karuppiah, CEO at IppoPay, and Mr. Magendra Negi, Head of Alliances & Partnerships (Financial Services Solutions) from a leading global technology company.

Cloudbankin, which started as a bootstrapped venture, has rapidly grown its customer base to include over 50 financial institutions across multiple countries. With an impressive annual growth rate of 60%, the company has been recognized as the second most user-friendly platform in the loan origination category by G2 Review. Financial institutions utilizing Cloudbankin’s product have achieved loan disbursements in under 10 minutes for unsecured loans.

Mr. Mani Parthasarathy, CEO of Cloudbankin, expressed his excitement about the funding, stating, “With this funding, we will enhance our AI-based low-code platform to enable customizable workflows and pluggable integrations for different financial products and launch it in 3 weeks.” He highlighted the current heterogeneity in the lending landscape and the need for customized solutions for different workflows and API integrations.

Mr. Prasanna, Managing Partner at Upekkha, commented on the investment, saying, “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 Fintech revolution picks up pace, Cloudbankin will help many BFSI companies go fully digital. Today’s customers are demanding, and companies that implement Cloudbankin will have a competitive advantage.”

Cloudbankin provides a comprehensive digital lending software solution tailored for financial institutions. Its offerings include low-code Digital Onboarding, Loan Origination System, Loan Management System, and Business Rule Engine. The founding members of Cloudbankin include Mani Parthasarathy as CEO, Maieenah Rajah as CRO, Alex Anto Navis as CTO, Hariharan in charge of Product, and Palanisami as the Techno-functional Consultant.

This funding will empower Cloudbankin to further innovate in the lending space and deliver enhanced digital solutions for the BFSI industry. The company aims to bring more customization and efficiency to borrower onboarding and streamline various financial products, including Business loans, Loan Against Property, Housing Loans, Gold loans, Buy Now Pay Later, and Personal loans.

About Cloudbankin: Cloudbankin (formerly called Habile Technologies) is a Chennai-based digital lending software company that offers a comprehensive solution for financial institutions. Its suite of products includes Digital Onboarding, Loan Origination System, Loan Management System, and Business Rule Engine. The company is led by a team of experienced professionals, including Mani Parthasarathy as CEO, Maieenah Rajah as CRO, Alex Anto Navis as CTO, Hariharan handling Product, and Palanisami as the Techno-functional Consultant.

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