"At some point, she realized teams were spending equal amounts of time analyzing all types of loans - regardless of whether it was worth $100,000 or $5 million - meaning assessing smaller loans was ultimately an unprofitable and time-consuming process for lenders. She and her husband, Utsav Shah, realized there was an opportunity here. "She watched as the vast majority of small business owners couldn't access the capital they needed to grow, simply because the economics didn't work for banks," Shah told TechCrunch."
"The married couple decided to launch Kaaj in 2024, a company that helps automate credit risk analysis so that underwriting no longer takes days, but minutes. Kaaj said it's processed more than $5 billion worth of loan applications, with clients including Amur Equipment Finance and Fundr. The company announced on Wednesday a $3.8 million seed round from Kindred Ventures and Better Tomorrow Ventures."
Shivi Sharma and Utsav Shah launched Kaaj in 2024 to automate credit risk analysis for small-business loans. Traditional underwriting treated all loans the same, making small loans unprofitable due to manual verification time. Kaaj uses AI to identify, classify, verify, and organize financial documents into loan origination systems and to detect document tampering for fraud teams. The platform integrates with CRM systems like Salesforce, HubSpot, and Microsoft and indicates whether a business meets lender criteria. Kaaj has processed over $5 billion in loan applications, serves clients such as Amur Equipment Finance and Fundr, and raised a $3.8 million seed round.
Read at TechCrunch
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