Algebrik AI, a New York-based startup pioneering an AI-powered, cloud-native Loan Origination Platform, has raised $4 million in Series A funding. The funds, disbursed in two phases, will support Algebrik’s mission to streamline loan origination for U.S. mid-tier banks and credit unions, aiming to address high customer acquisition costs and inefficient, manual processes.
Founded by industry veteran Pankaj Jain, Algebrik’s platform is designed to create a faster, more accurate lending experience through AI and cloud-based technology. Jain stated, “This funding empowers us to accelerate our mission, providing a personalized lending experience for borrowers and enhancing efficiency for lenders.”
Investor Bhupinder Singh, CEO of InCred, emphasized the importance of AI in advancing financial services, noting that Algebrik will help mid-tier institutions reduce abandonment rates and improve customer satisfaction with seamless digital loan delivery.
With this capital, Algebrik AI will focus on continuous innovation and user-driven development, strengthening its position in a loan origination market expected to grow to $12.2 billion by 2032.
