Chennai-based lending technology platform Uncia has raised $3 million (about Rs 25 crore) in its first institutional funding round led by venture capital firm Pavestone, as it seeks to expand both domestically and into international markets.
Founded in 2020, Uncia develops software infrastructure for banks and non-banking financial companies (NBFCs), covering loan origination, loan management and supply chain finance. The company said its platform currently manages more than Rs 2 lakh crore in cumulative loan value across clients, including some of India’s largest lenders.
It will use the raised funds to to accelerate growth in India and support expansion into the Middle East and North Africa (MENA) region, as well as North America.
“We made a deliberate choice to build before we raised. Every rupee we invested came from the conviction that solving the right problem well would lead to market validation,” said Hari Padmanabhan. “We now have the product and validation at scale. This capital allows us to take the platform global.”
Uncia’s cloud-based platform is designed to allow financial institutions to configure and launch lending products without heavy reliance on IT systems or lengthy implementation timelines. Its offering spans the full lending lifecycle and focuses on what it describes as “self-serve” infrastructure, enabling institutions to manage complex products independently.
The company has also been developing AI models in collaboration with IIT Madras, with early applications in underwriting and operational efficiency already in use.
Pavestone’s managing partner Srikanth Tanikella said the investment reflected confidence in Uncia’s approach to modernising lending systems. “The ecosystem is expanding rapidly, but much of the underlying technology remains constrained by legacy systems. Uncia’s platform addresses this gap while enabling scalable deployment,” he said.
