Kaaj, an AI-fintech startup focused on credit intelligence for small and medium-sized borrowers, has raised $3.8 million in a seed funding round led by Kindred Ventures, with participation from Better Tomorrow Ventures and other investors.
With this capital, Kaaj will invest in product development, expand its module suite, and grow its customer base of lenders and brokers that serve small and medium-business financing.
Kaaj launches with a platform built to automate underwriting workflows for lenders handling small business loans. According to published information, its technology can extract, verify and organise borrower documents and financials in minutes rather than days.
According to the company, the platform has already processed over $5 billion in loan applications and integrates with existing loan origination systems and CRM tools.
The cost of underwriting small loans has often been too high for lenders to make them profitable. By automating the underwriting workflow, Kaaj aims to change that dynamic.
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