Cloudbankin
Software and web solutions provider.
| Date | Investors | Amount | Round |
|---|---|---|---|
* | $400k | Seed | |
| Total Funding | 000k | ||
Cloudbankin, formerly known as Habile Technologies, operates as a Software-as-a-Service (SaaS) provider, offering a comprehensive digital lending platform for financial institutions. The company was founded in 2013 by a team of five alumni from Madras Institute of Technology: Mani Parthasarathy (CEO), Maieenah Rajah (CRO), Alex Anto Navis (CTO), Hariharan Govindaraju (in charge of Product), and Palanisami Muthusamy (Techno-functional Consultant). Initially a service-based company developing applications for banks, it pivoted in 2021 to a product-centric model with Cloudbankin. The founders' journey began with providing application development services to banks, which gave them the insight to create a platform that automates the entire lending process. CEO Mani Parthasarathy previously worked as a Module Lead at Wipro Technologies, where he developed foundational tech skills.
The Chennai-based company targets banks, non-banking financial companies (NBFCs), housing finance institutes, and fintech firms, with a client base of over 50 institutions across India, the US, UK, Sri Lanka, and the Philippines. Cloudbankin's business model is subscription-based (SaaS), generating revenue by providing its cloud-based banking engine to these institutions. The company started as a bootstrapped venture and in June 2023, it secured $400,000 in funding from angel investors, Upekkha (a SaaS accelerator), and Kube VC.
The platform is an end-to-end digital lending solution designed to streamline and automate the entire loan lifecycle. Its key offerings include a Loan Origination System (LOS), Loan Management System (LMS), a low-code digital onboarding process, and an AI-based business rule engine for credit decisioning. This integrated system enables financial institutions to disburse unsecured loans of less than Rs 2 lakh in under 10 minutes. The platform supports a wide array of loan products, including personal loans, business loans, housing loans, gold loans, and Buy Now Pay Later (BNPL). It achieves this speed and efficiency by integrating multiple third-party APIs for processes like eKYC verification, credit bureau analysis, and bank statement analysis. Beyond lending, the suite also extends support for savings, deposits, mobile banking, and cards. This allows clients to configure their own underwriting parameters and automate credit decisions, significantly reducing manual processing and enabling a small team to handle a large volume of loan applications.