Kul Bhushan · · 1 min readIndian low-code fintech firm raises $1.6m in seed money
WonderLend Hubs, an India-based fintech startup, has raised US$1.6 million in a seed round led by Inflection Point Ventures.
WonderLend Hubs co-founder Rajesh Iyer / Photo credit: WonderLend Hubs
Founded in 2016 by Ram Ramdas, Rajesh Iyer, and Anusha Jathanna, WonderLend provides low-code modular credit solutions under a pay-as-you-scale pricing model.
Its platform aims to make it easier for lenders – including small and medium-sized ones – to launch or scale products such as vehicle loans, personal loans, home loans, and buy now, pay later offerings.
The startup said it will use the capital for further growth by strengthening sales and marketing, expanding the team, and scaling up the business.
WonderLend is looking to tap into India’s digital lending industry, which is projected to be worth US$350 billion by 2023. It is also eyeing the boom in demand for no-code and low-code platforms, which is expected to be a US$46 billion global market by 2025.
In November 2021, neobanking firm Open launched competing no-code fintech platform Zwitch, which enables businesses to roll out fintech products such as bank accounts, card issuance, payments, and lending products.
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Editing by Miguel Cordon and Lorenzo Kyle Subido
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