Around $1.5 million was raised on Monday in a seed round by LenDenClub Alpha, Artha Venture Fund, and Unicorn India Ventures for Hubbler, a no-code platform that offers application development.
The company intends to use this funding to expand its user base and penetrate new areas throughout the world. In the next year, it also wants to roughly tenfold the number of transactions.
By the end of 2023, the company hopes to have five times as many enterprise customers as it currently has 50 enterprise customers, which includes three unicorns, as per reported by Entrepreneur.com.
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“No-code demand is growing rapidly, and we are seeing opportunities waiting to get explored. We plan to expand in the international market and process 10 times higher transactions by 2023,” said Vinay Agrrawal, founder, Hubbler.
The platform has built over 1,000 applications for businesses and partners and manages over a million transactions each month. In the upcoming 12 months, the company intends to raise the volume of transactions by a factor of 10.
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“The back end of developing complex applications has been a hurdle in scaling a business, a problem valued at $11.45 billion in 2019 before the hyper-scale achieved in the pandemic. Hubbler is tapping into this nascent market with a founding team with deep operating knowledge and a stellar drive,” said Anirudh Damani, managing partner, Artha Venture Fund.
Since its founding in 2016, the company has successfully assisted 20+ SME and big customers from a variety of industry verticals and functions in their digital transformation.
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Hubbler is a unique SaaS solution provider that makes it simple for businesses to manage, digitise, automate, and optimise business operations. We provide straightforward, approachable automation technologies that facilitate the creation of adaptable digital business applications.