Algebrik AI, a NYC-based provider of a cloud-native and AI-powered digital era loan origination platform, raised $4M in Series A funding.
The closing of the investment is subject to obtaining appropriate regulatory approvals. Backers were not disclosed.
The company intends to use the funds to accelerate the development of its software and advance its solutions and to consolidate its role in a market projected to reach $12.2 Billion by 2032, growing at 10.2% CAGR.
Founded by CEO Pankaj Jain, Algebrik AI provides a cloud and AI native digital-era loan origination platform (LOS) empowering credit unions, mid-tier banks and lenders of all sizes to attract, engage, grow, and retain members or consumers.
FinSMEs
04/11/2024