Algebrik AI Raises $4 Million in Series A

Algebrik AI Raises $4 Million in Series A

Algebrik AI, a New York-based cloud-native and AI-powered digital-era loan origination system (LOS) company, has raised $4 million in Series A funding.

The investors in this round were not disclosed.

The company will use the funding to accelerate the development of its innovative lending technology. The investment will be disbursed in two phases to support product enhancements and market expansion.

Founded by Pankaj Jain, Algebrik AI offers a cloud-native and AI-powered digital-era loan origination platform (LOS), designed for the next generation of members and consumers. Algebrik empowers credit unions, mid-tier banks, and lenders of all sizes to attract, engage, grow, and retain next-generation members and consumers. By transforming loan origination end-to-end, Algebrik helps these institutions remain competitive in today’s digital landscape.

Funding Details

Company: Algebrik AI Inc.

Raised: $4.0M

Round: Series A

Funding Date: November 2024

Investor: Undisclosed

Company Website: https://www.algebrik.ai/

Software Category: AI Lending