March 5, 2024

IAN invests in USD 1.6 million Seed Round of WonderLend Hubs, a Fintech Startup

0

Stay connected with Business News This Week for business news, news this week, news headlines, business news, health, education, startups

Comment on Budget expectations by Mr. Aneel Gambhir – CFO, Blue Dart

13th, July 2022: WonderLend Hubs, a NoCode PaaS solutions enterprise has raised USD 1.6 million in a seed round from Indian Angel Network and others.

The company aims to utilize the freshly infused investment to scale its business by accelerating its platform transformation, augmenting its delivery capabilities and investing in Sales, Business Development and Marketing. The funding will also be directed towards building channel partnerships in India, APAC, North America and other overseas markets to tap the wider, global opportunity

Founded in 2016, WonderLend Hubs is a #NoCode FinTech solutions enterprise which offers focused solutions in the lending and incentive compensation management domains. Designed and deployed in an affordable “pay as you use” micro services API architecture, its LPaaS caters to enterprise as well as newly born lenders & originators, driving lending innovation via new product/variant-launches or accelerating existing products, particularly in under-served segments, whilst its ICM PaaS caters to automating channel incentive management for enterprises.

The company enables the rapid scaling of mass-customized consumer and business loan products such as personal loans, vehicle loans, home loans, retailer finance, BNPL, etc. The No Code nature of their LPaaS allows business users to build their variables, credit rules, score cards, and orchestrate multiple workflows through front-end configuration, as opposed to coding.

Similarly, the company enables large enterprises to fully digitize their variable sales compensation payouts viz. commissions, incentives, rewards & recognitions etc. in respect of their staff as well as channel partners. It also helps them on-board channel partners as well as manage their lifecycle, as well as analyze program, team and individual performance.

The founding team members of the company are Dr. Ram Ramdas-Chief Evangelist, who heads Technology & Engineering, and Rajesh Iyer- Chief Executive Officer who drives Revenue, Business Development, and Key Partnerships.

Speaking about the funding, Dr. Ram Ramdas, Chief Evangelist said “At Wonderlend Hubs, our raison d’etre is to help shape the future of technology by liberating it from convention. As an upstart, without the burden of legacy, we were therefore, able to envision mission-critical systems being run by business users. We did that by adopting NoCode and a micro-service architecture as our core pillars to build focused solutions in domains that we thought could be significantly better served by technology”.

Rajesh Iyer, Co-founder & Chief Executive Officer said “We strongly believe that enterprises derive the best returns when they focus on their core business. They shouldn’t need to build large technology organizations to support and run their tech ecosystem. So, we put together an outcome-focused innovative ‘managed service’ delivery model and a ‘pay as you scale’ pricing model that helps them amortize hitherto lumpy technology costs across a very long business cycle, even as it rids them of all the grunt work in maintaining all of this”.

“We see Wonderlend Hubs as an exciting opportunity in the overarching digital transformation domain. Whilst their current focus on the LendTech and ChannelTech domains are large, exciting opportunities in themselves in India and globally, their underlying NoCode platform on which these solutions are built, also has them uniquely positioned to capture the wider NoCode opportunity in the time to come. They already serve very big marquee names in the BFSI industry. The fund raise from IAN will help them accelerate their growth trajectory and enable the delivery potential of their solutions to be realized to the fullest,” said Rahul Mahipal, Lead Investor at IAN.

The digital lending market would reach a value of around 350 billion dollars by 2023. The market for No-Code platforms is growing exponentially at a CAGR of 28.1% and is estimated to reach USD 45.5 billion by 2025.


About Neel Achary

13938 Articles

Neel Achary is the editor of Business News This Week. He has been covering all the business stories, economy, and corporate stories.


Website


Facebook


Instagram


Twitter


YouTube


LinkedIn

Leave a Reply

Your email address will not be published. Required fields are marked *