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Kaaj, an AI-powered credit intelligence platform focused on small business lending, has raised $3.8 million in seed funding led by Kindred Ventures. The round also attracted participation from Better Tomorrow Ventures, Karman Ventures, Pythia Ventures, Coughdrop Capital, and several prominent angel investors, including Sardine AI CEO Soups Ranjan and TreasuryPrime COO Remy Carole.
Launched in 2024, Kaaj leverages agentic AI workflows to streamline and automate end-to-end credit analysis, enabling lenders to rapidly evaluate loan packages and produce decision-ready insights. The company says its technology significantly reduces the cost and time associated with underwriting, allowing for faster, more accurate loan decisions.
Kaaj’s founding team brings deep experience in AI, credit risk, and financial systems. CEO Utsav Shah previously spent a decade building AI-driven decision engines at Uber and Cruise, while President Shivi Sharma has held senior roles in credit and fraud risk at American Express, Uber, and Varo Bank.
The need for innovation in this space is urgent. According to the Federal Reserve’s 2024 Small Business Credit Survey, nearly half of small business applicants do not receive the full financing they require. Kaaj attributes much of this gap to the high operational cost of underwriting loans under $1 million, which are often unprofitable for lenders relying on manual, document-heavy processes.
Kaaj’s platform automates key components of credit evaluation—including business verification, cash flow assessment, asset valuation, financial analysis, and risk scoring—using AI agents that work collaboratively. Tasks that typically take underwriters days to complete can now be finished in under three minutes, with the resulting analysis integrating directly into existing loan origination systems.
“Kaaj’s platform doesn’t just speed things up—it reshapes the economics of small business lending,” Sharma said. “By making smaller loans profitable for lenders, we’re helping bridge the financing gap while improving the borrower experience.”
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