Fintech company WonderLend Hubs raises $ 1.6 million led by Inflection Point Ventures

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Fintech company WonderLend Hubs has raised $ 1.6 million in a seed financing round led by Inflection Point Ventures (IPV).

The company said it will use the funds to complete its platform as a service transformation, strengthen sales and marketing and build a framework for outstanding delivery in order to expand its business on a large scale.

The founding team consists of Dr. Ram Ramdas – Chief Evangelist, who leads technology and engineering, and Rajesh Iyer – CEO who drives revenue, business development and important partnerships in the company.

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Rajesh Iyer, CEO, WonderLend Hubs said “We believe we have hit the right intersection between technology, delivery model and pricing in our domains and target segments. We have achieved market validation and significant business appeal with a multitude of marquee customers, especially in the BFSI domain. In IPV we found a partner who not only believed in our history, but who helped us see a greater opportunity than we had imagined.We are privileged to have some of IPV’s pedigree as our earliest investors, as we look forward to growing not only in India , but globally. “

Designed and distributed in an affordable “pay as you go” microservices API architecture, WonderLends LPaaS caters to businesses as well as newborn lenders and originators, driving lending innovation by launching new products / variants, or accelerating existing products , especially in underserved segments, while ICM PaaS addresses automation of channel incentive management for companies, the company said.

A comment on the collection, Ankur Mittal, co-founder, IPV said: “We look at Wonderlend Hubs as a unique opportunity that is greater than the sum of its parts. While LPaaS and ICM PaaS solutions are great, exciting independent opportunities, the synergy in their target segments offers great cross-selling potential for which they are well positioned. Even on a boot-strapped basis, they have already demonstrated market validation of all 3 dimensions through what they have achieved so far.The platform and their delivery capabilities have already helped them cater to customers in India and abroad, which clearly indicates their potential to grow in scale, it is commendable that they have already become a preferred provider for the insurance industry, IPV aims to further improve the growth path and help them penetrate untapped potential markets.

IPV has been involved in helping startups in the early stages of growing their business. IPV believes in supporting financially and leveraging their vast CXO network to help startups grow their business as well. To take this a step further, IPV has announced the launch of Physis Capital, a $ 50 million fund that will be used in part to support the start-up of growth stages from the current IPV portfolio as part of its winning strategy.

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WonderLend on the other hand, LPaaS acts as an integrated “credit gateway” that allows even small and medium-sized lenders / lenders to quickly launch / scale a range of consumer and small business lending products such as car loans, personal loans, MSME loans, reseller financing, mortgages, buy now, pay later (BNPL), etc.

India’s digital lending industry is estimated to be $ 350 billion by 2023. The code-free platform market is starting to grow exponentially and is estimated at $ 46 billion by 2025, aiming for the broader $ 1.5 billion enterprise software and IT services market. The ChannelTech market itself is estimated to grow to $ 6 billion by 2026.