A seed round headed by Inflection Point Ventures garnered $1.6 million for WonderLend Hubs, an Indian fintech firm.
Ram Ramdas, Rajesh Iyer, and Anusha Jathanna founded WonderLend in 2016, which offers low-code modular credit solutions with a pay-as-you-scale pricing structure.
With the help of its platform, lenders of all sizes, including small and medium-sized businesses, will be able to more easily introduce or expand buy-now, pay-later products and other financial services including auto loans and personal loans.
The startup said that it will put the money to use by boosting sales and marketing, growing the staff, and expanding the company.
WonderLend is attempting to get into the $350 billion digital lending market in India, which is expected to emerge by 2023. It is also keeping an eye on the surge in demand for low-code and no-code platforms, which is predicted to reach a worldwide market size of US $46 billion by 2025.
Neobanking company Open introduced their rival no-code fintech platform Zwitch in November 2021. This platform enables companies to build up fintech goods including bank accounts, card issuance, payments, and loan products.
