Cedar-IBSi Capital, an early-stage B2B FinTech/BankTech-focused VC fund, has announced its second investment, in WonderLend Hubs (WLH).
Along with Cedar-IBSi Capital, the round saw participation from WLH’s existing investors, Inflection Point Ventures (IPV) and IAN. The funds will be used for strengthening the team and technology roadmap.
WonderLend Hubs is a no-code financial technology company that helps large Insurance and banking players manage, digitise and automate commissions and incentive programs for its various sales and collections channels.
The company also has emerging solutions in areas of new-age credit assessment – combining LOS (loan origination), Credit BRE (business rule engine) and Workflow orchestration capabilities. In addition, it has built a Socio-Economic Profiler (SEP), a location intelligence-based credit score for retail lenders, especially those who target the New-To-Credit segment.
Today, WLH counts 25+ Tier1 Indian and regional Insurance players and Banks as customers across India, Sri Lanka, Malaysia, Vietnam, Hong Kong and Dubai. Global Incentive Management Software is expected to expand at a CAGR of 16.4% from 2023 to 2032. In 2022, it was $1.65bn industry.
Cedar-IBSi Capital, which announced its first close in 2024, made its first investment in Cogniquest, an intelligent document processing company in August 2024. After the second investment, CedarIBSi Capital plans to invest in a total of 10-12 B2B banking tech start-ups. The initial investment in each start-up will range between INR 4-6 crore and it plans to double down on fast-growing portfolio companies.
Sahil Anand, Founder and Managing Partner of Cedar-IBSi Capital, said, “We are very excited to partner with Ram and Rajesh. Their platform-based approach to building solutions for various problem statements covering sales channel automation, lending origination and credit profiling is impressive. Moreover, their 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 and see WonderLend Hubs grow into a leading global BankTech player.”
Subit Saurav, Associate Partner, Cedar-IBSi Capital said, “Remaining true to our thesis, we believe that Rajesh and Ram bring a complimentary skillset with decades of relevant experience and have built a strong foundation, team and product, and we are excited to partner with them. While India’s front-end B2C digitisation has evolved to large extent, the next wave is centred on technology companies that are focusing on upgrading legacy systems and digitising business-critical manual processes to drive efficiency and agility.”
Rajesh Iyer, Co-Founder & CEO, WonderLend Hubs, said, “In Cedar-IBSi Capital, we see a strong capital and value-additive partner uniquely positioned to further the core business of the company. As a TechFin that is significantly BFSI-focussed, Cedar-IBSi’s global stature feels like the wind beneath our wings.”
Dr Ram Ramdas, Co-Founder & Chief Evangelist, WonderLend Hubs, said, “We are thrilled to have someone of the pedigree of Cedar-IBSi Capital as an investor as we pursue our endeavour to drive true digital transformation in our chosen domains, globally.”
Founded in 2016, WonderLend Hubs has built no-code, micro-modular PaaS solutions provided as a subscription-based managed service for incentive compensation automation, new-age loan origination & decisioning management and credit profiling of new-to-credit (NTC) customers for the Banking and Financial Services industry.
