Cedar-IBSi Capital Invests in WonderLend Hubs
Cedar-IBSi Capital has announced its investment in WonderLend Hubs, a company that helps insurance and banking firms manage and digitize their commissions. The investment will be used to strengthen the team and technology roadmap.
New Delhi, Feb 5 (PTI) Venture capital fund Cedar-IBSi Capital on Wednesday announced its investment in WonderLend Hubs (WLH) that aids large insurance and banking firms in managing, digitising, and automating their commissions.
It said WLH is developing innovative solutions in new-age credit assessment by integrating loan origination systems, and credit business rule engines.
The second round of investments will be used for strengthening the team and technology roadmap, it said.
Commenting on this, Sahil Anand, Founder and Managing Partner of Cedar-IBSi Capital, said, "WLH's already-strong customer base of leading Indian and regional institutions demonstrates that they have built a competitive range of solutions. We are excited to go down this journey with them".
Rajesh Iyer, Co-Founder CEO, WonderLend Hubs, said the partnership with Cedar-IBSi Capital will help further push the company's core business.
The venture capital fund said at present, WLH counts over 25 Tier-1 Indian and regional insurance players and banks as customers across India, Sri Lanka, Malaysia, Vietnam, Hong Kong, and Dubai.
It added that after the second investment, Cedar-IBSi Capital plans to invest in 10-12 B2B (business to business) banking tech start-ups.
"The initial investment in each startup will range between Rs 4-6 crore and it plans to double down on fast growing portfolio companies," it said.
It said WLH is developing innovative solutions in new-age credit assessment by integrating loan origination systems, and credit business rule engines.
The second round of investments will be used for strengthening the team and technology roadmap, it said.
Commenting on this, Sahil Anand, Founder and Managing Partner of Cedar-IBSi Capital, said, "WLH's already-strong customer base of leading Indian and regional institutions demonstrates that they have built a competitive range of solutions. We are excited to go down this journey with them".
Rajesh Iyer, Co-Founder CEO, WonderLend Hubs, said the partnership with Cedar-IBSi Capital will help further push the company's core business.
The venture capital fund said at present, WLH counts over 25 Tier-1 Indian and regional insurance players and banks as customers across India, Sri Lanka, Malaysia, Vietnam, Hong Kong, and Dubai.
It added that after the second investment, Cedar-IBSi Capital plans to invest in 10-12 B2B (business to business) banking tech start-ups.
"The initial investment in each startup will range between Rs 4-6 crore and it plans to double down on fast growing portfolio companies," it said.
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