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Credit Risk Automation Platform Kaaj Raises $3.8 Million Seed from Kindred Ventures
In a move aimed at disrupting the traditional credit risk assessment process, Kaaj has secured $3.8 million in its seed funding round led by Kindred Ventures and Better Tomorrow Ventures.
The platform’s founders, Shivi Sharma and Utsav Shah, have an intimate understanding of the credit risk landscape, having spent years working within the financial industry. The duo recognized that small business lending is still a time-consuming and labor-intensive process, with underwriters spending inordinate amounts of time manually verifying loan applications.
“We’re focused on enhancing our AI agent capabilities, expanding our module offerings, and scaling our customer base of lenders and brokers beyond our current footprint,” said Shah, CEO of Kaaj.
The seed funding will be used to accelerate product development and expand the company’s reach across independent and small business lenders. The goal is to free up human underwriters from tedious administrative tasks, allowing them to focus on what they do best: making deals and conducting subjective assessments.
Kaaj’s AI-powered solution uses machine learning algorithms to identify, classify, verify, and organize information into a Loan Origination System (LOS). Additionally, the platform also checks for document tampering to prevent fraud and integrates seamlessly with existing CRM systems like Salesforce, HubSpot, or Microsoft.
By automating the entire credit analysis process, Kaaj aims to make small business lending more efficient, accessible, and sustainable. The company has already processed over $5 billion worth of loan applications, partnering with clients such as Amur Equipment Finance and Fundr.
As Kaaj looks to scale its operations, it’s set itself apart from competitors like Middesk, Ocrolus, and MoneyThumb by deploying AI workflows that mimic the team-based approach lenders currently use.
Source: techcrunch.com
