Lending solutions platform Uncia has raised US$3 million in its first funding round from Pavestone VC, a venture capital firm based in Hyderabad.
The company will use this funding to grow its business in India and expand into new markets like the Middle East, North Africa (MENA), and North America.
The company has also said it plans to go public in the next few years. This funding round is seen as the first step in its long-term goal of becoming a global, publicly listed lending technology company.
“We made a deliberate choice to build before we raised. Every rupee we invested came from the conviction that if we solved the right problem well enough, the market would validate it. Today, we manage over 2 lakh crore rupees cumulatively for some of India’s top NBFCs, and we believe we’ve proven our thesis. This funding is not a beginning but a gear shift. We have the product. We have validation at scale and diversity. Now we have the capital to take this to the world. We’re pleased to partner with Pavestone. Their investment values align closely with our mission, and we look forward to drawing on the strategic insight of their leadership team.” – Hari Padmanabhan, Chairman, Uncia.
“At Pavestone, we focus on backing businesses that are solving structural problems in large enterprises, with a clear path to scale and profitability. The lending ecosystem is expanding rapidly, yet much of the underlying technology remains constrained by legacy systems that cannot support the speed, flexibility and intelligence lenders now require. Uncia has built a unified, cloud-first platform with embedded AI capabilities that addresses these challenges while enabling rapid deployment and ‘pay-as-you-grow’ scalability. We believe the company is well-positioned to deliver durable value.” – Srikanth Tanikella, Managing Partner, Pavestone Capital.
Uncia was founded in 2020 by Hari Padmanabhan and is based in Chennai. It is an AI-based lending technology company that provides digital tools for banks and NBFCs. Its main products include UnciaPrime (for starting loans), UnciaLeap (for managing loans), and UnciaFlow (for supply chain finance and digital lending).
The company is building a cloud-based platform powered by AI to replace old and outdated systems used in the financial sector. Its aim is to help lenders launch and manage loan products faster and more easily, without relying heavily on traditional IT processes.
Uncia also offers a “self-serve” system, which allows financial institutions to set up and manage lending products on their own, without long development times or constant technical support.
The platform currently manages over ₹2 lakh crore in assets under management (AUM) for major financial institutions in India.
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