Inflection Point Ventures leads WonderLend Hubs’s $1.6M seed round

WonderLend Hubs, a NoCode PaaS solutions provider, has raised $1.6 million in a seed financing round led by Inflection Point Ventures (IPV).

The funds will be utilized for completing its platform as a service transformation, strengthening sales and marketing, and building a delivery excellence framework.

Founded by Dr Ram Ramdas and Rajesh Iyer, WonderLend Hubs offers LPaaS functions as an integrated ‘credit gateway’. This enables small and medium-sized lenders/loan originators to launch/scale a range of consumer and small business lending products, such as vehicle loans, personal loans, MSME loans, retailer finance, home loans, and buy now pay later (BNPL).

Its ICM PaaS drives bottom line and topline benefits for enterprises by functioning as an agile and dynamic automation solution that future-proofs their variable sales compensation strategy.

The architecture & capabilities offered by the firm has very wide custom-configuration capabilities at affordable price points.

Ankur Mittal, Co-Founder of IPV said: “Whilst its LPaaS and ICM PaaS solutions are large, exciting independent opportunities, the synergy in their target segments presents huge cross-sell potential that they are well-positioned to tap. Even on a boot-strapped basis, they have already demonstrated market validation of all three dimensions through what they have achieved thus far.”

“Their platform and delivery capabilities have already helped them to cater to clients in India and overseas, which clearly indicates their potential to grow at scale. It is commendable that they have already become a preferred provider for the insurance industry,” he added.

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Ramdas, Chief Evangelist, said: “At Wonderlend Hubs, we are driven by the vision that true democratization of technology can happen only by putting the power of technology in the hands of the ‘business user’, free from the constraints of how it has been deployed historically.  We, therefore, embraced NoCode combined with a micro-service architecture as our way to move the dial in our chosen domains, much before it became part of mainstream conversation.”

The digital lending industry in India is projected to be $350 billion by 2023. The market for no-code platforms is starting to grow exponentially and is projected at $46 billion by 2025, targeting the broader enterprise software and IT services market of $1.5 trillion.

IPV recently announced the launch of a $50 million AIF fund, Physis Capital, to invest in Series A and B growth-stage startups. IPV has so far invested over INR 420+ crore in 128 deals.