Fintech startup WonderLend Hubs raises $ 1.6 million in a Seed Round led by IPV

WonderLend Hubs, a provider of NoCode PaaS solutions, has raised $ 1.6 million in a seed round led by Inflection Point Ventures. Designed and distributed in an affordable “pay as you use” micro-services API architecture, LPaaS caters to companies as well as newborn lenders and originators, drives lending innovation through the launch of new products / variants, or accelerates existing products, especially in underserved segments , while ICM PaaS handles automation of channel incentive management for companies. The funds will be used to complete the platform as a service transformation, strengthen sales and marketing and build a framework for outstanding delivery in order to expand the business on a large scale.

The founding team consists of Dr. Ram Ramdas – Chief Evangelist, who heads Technology & Engineering, and Rajesh Iyer – Chief Executive Officer who drives revenue, business development and key partnerships.

Ankur Mittal, co-founder, IPV says, “We see Wonderlend Hubs as a unique opportunity that is greater than the sum of its parts. While the LPaaS and ICM PaaS solutions are great, exciting independent possibilities, the synergy in their target segments presents a large cross-selling potential that they are well positioned to exploit. 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 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 at the forefront of helping startups in the early stages by helping them expand 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.

WonderLend Hubs’ LPaaS acts as an integrated ‘credit gateway’ that enables 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, dealer financing, mortgages, buy now , pay later (BNPL), etc. It is ICM PaaS that drives bottom line and top line benefits for companies by acting as a flexible and dynamic automation solution that secures the future of their variable sales compensation strategy. The architecture and features offered by the company have very wide custom configuration options at affordable prices.

Dr. Ram Ramdas, chief evangelist said At Wonderlend Hubs, we are driven by the vision that true democratization of technology can only happen by leaving the power of technology in the hands of the ‘business user’, free from the limitations of how it has been historically distributed. We therefore embraced NoCode combined with a micro-service architecture as our way of moving the disc on our chosen domains, long before it became part of the mainstream conversation. “

Rajesh Iyer, CEO 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. “

India’s digital lending industry is estimated to be $ 350B by 2023. The No-Code platforms market is starting to grow exponentially and is estimated at $ 46B by 2025, targeting the broader $ 1.5Tn enterprise software and IT services market. The ChannelTech market itself is estimated to grow to $ 6 billion by 2026.