Platform as a service (or PaaS) solutions provider WonderLend Hubs has raised $1.6 million in a seed funding round led by angel investing platform Inflection Point Ventures. WonderLend Hubs said that it will utilise the funds for scaling up business, expanding the team and enhancing platform and delivery capabilities in India and overseas market.
PaaS, or platform-as-a-service, is a cloud computing model wherein a third-party provider delivers hardware and software tools to users via the Internet.
Wonderlend Hubs, which is focused on lendtech and channeltech domains, also added that money raised through this seed round will also be used for completing its platform as a service transformation, along with building a delivery excellence framework to be able to grow the business at scale.
Commenting on the fundraising, the start-up's CEO Rajesh Iyer said, “In IPV, we found a partner who not just believed in our story but helped us see a bigger opportunity than we had envisaged. We are privileged to have someone of IPV’s pedigree as our earliest investors as we look forward to growing not just in India, but globally.”
“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,” added Ram Ramdas, who is the company's chief evangelist.
“We see Wonderlend Hubs as a unique opportunity that is larger than the sum of its parts. 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 3 dimensions through what they have achieved thus far,” Inflection Point Ventures (IPV) co-founder Ankur Mittal commented.
The angel investing platform has also launched $50 million AIF Fund Physis Capital to invest in series A and B growth-stage start-ups. Inflection Point Ventures (IPV) has invested over Rs 420 crore in 128 deals so far.
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