AI-ready – AI-ready lending infrastructure for India
Building India's AI-ready lending rails.
MANNJAL, based in Bengaluru, provides full-stack lending infrastructure that lets banks and non-bank lenders originate and manage loans to underserved entrepreneurs. The platform supports phygital data capture, enriches borrower information, automates underwriting, and manages workflows across the lending lifecycle.
On 3 December, the company raised ₹17.5 crore (about $2.1M) in seed funding led by Arali Ventures and B Capital, with Sparrow Capital and Gemba Capital joining the round. Over the past 18 months, Mannjal's network of more than 75 lenders has disbursed nearly ₹1,000 crore (about $120M) and cut loan turnaround times by 50% to 75%, while boosting approval rates to 85% to 90%.
Co-founders Prashant Adurty, Aman Bhargava, and Harshit L. are building lending rails to unlock credit for millions of small enterprises and priority sector borrowers. The new capital will help expand the lender network and make the platform AI-ready, so that risk models, operations, and collections can all benefit from better data and automation.
In a country aiming for a $50 trillion economy by 2047, a robust credit infrastructure could be one of the key catalysts.
Will India's next credit boom come from APIs rather than banks?
#fintechoftheday #lending #India #SME
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