Uncia Secures Funding for Lending Solutions Expansion

Lending solutions platform Uncia has successfully raised $3 million (approximately Rs 25 crore) in a seed funding round spearheaded by the Hyderabad-based venture capital firm Pavestone. The funds will facilitate Uncia’s growth within India and aid its expansion into the Middle East, North Africa (MENA), and North American markets, as announced in a recent press release.

Uncia’s Innovative Approach to Lending

Founded in 2020 by Hari Padmanabhan, who serves as the Chairman of Uncia, the company is known for its AI-driven lending technology that creates digital infrastructure tailored for banks and non-banking financial companies (NBFCs). The platform provides three interconnected products: UnciaPrime (Loan Origination System), UnciaLeap (Loan Management System), and UnciaFlow (Supply Chain Finance and Digital Lending).

Addressing Legacy System Challenges

The lending sector is experiencing rapid growth, yet a significant portion of the technology used still relies on outdated systems that fail to meet the requirements of modern lenders regarding speed, flexibility, and intelligence. Uncia has developed a unified, cloud-first platform that incorporates AI capabilities to overcome these obstacles, facilitating swift deployment and a ‘pay-as-you-grow’ scalability model.

Empowering Financial Institutions with AI

According to this Chennai-based startup, its AI-driven platforms are centred around a self-service lending infrastructure. This allows financial institutions to independently configure, launch, and manage complex lending products without the need for change requests, IT dependencies, or lengthy implementation timelines that usually extend for months.

The startup boasts that it manages over Rs 2 lakh crore in assets under management (AUM) across major financial institutions, including some of the largest lenders in India.

Pavestone’s Strategic Investment Focus

Pavestone Technology Fund, which has a corpus of Rs 816 crore, primarily invests in early-stage B2B technology companies that tackle critical issues for both public and private enterprises. The fund tends to support companies that have demonstrated market traction, possess a strong product-market fit, and maintain partnerships with key clients.