Software firm Kuliza has raised $3 million funding led by Silicon Valley-based venture capital firm Emergent Ventures. The company plans to use the capital raised to invest in R&D for its flagship product Lend.in.
“Our revenue and paying customers will enable us to strategically increase our global footprint,” said Kaushal Sarda, Chief Executive Officer, Kuliza.
“We are glad to have a partner like Emergent Ventures which will pave the way to making Kuliza as the preferred transformation partner of global financial enterprises” added Aparna Sharma, Co-Founder and Chief Operating Officer, Kuliza.
Launched in 2006, Kuliza started off as a web, social and mobile app development firm. It now provides digital transformation solutions to financial enterprises. The company claims to have executed more than 120 digital transformation projects for startups and enterprises across the world. It had raised funding from Blume Ventures in 2013.
Among its clientele include Aditya Birla Finance, HDFC Life, Coverfox, Capital First, Birla Sun Life Mutual Fund and UTI Mutual Fund.
The company launched its lending product Lend.in in 2017 and now claims that over a billion dollars worth loans have been processed through the product.
“We see great potential in Kuliza which has established a strong foundation for rapid and sustainable growth. Their products are driving significant value for their customers and Kuliza is capturing market share from incumbents” said Ankur Jain, Founder, and Partner, Emergent Ventures. The firm has previously backed startups like Talview, Observe.AI, and Minjar that was acquired by Nutanix in March last year.