Open for hiring: Kita raises $4.5 million to expand AI credit assessment for lenders

# AI Lending Startup Kita Raises $4.5 Million to Expand Credit Access

Kita, a San Francisco-based startup developing artificial intelligence infrastructure for lending, has raised $4.5 million in a seed funding round led by BoxGroup and Y Combinator. The company plans to use the funding to expand its AI-powered lending technology and help financial institutions identify borrowers who may be overlooked by traditional credit assessment systems.

Kita aims to make credit evaluation faster and more accessible by using artificial intelligence to automate parts of loan origination and underwriting. Its technology is designed for banks, fintech companies, microlenders and lenders serving small and medium-sized businesses.

The startup said its platform can analyze lending applications and complete workflows that previously required days or even months in less than 60 seconds. Kita has already processed more than $130 million in loan volume for financial institutions across the United States, Southeast Asia and Latin America.

Its technology is currently being used by lenders in markets including the Philippines, Indonesia, Mexico and the U.S. The company is targeting several areas of lending, including consumer credit, microfinance and financing for small and medium-sized businesses.

Kita was founded by a team with experience at major technology companies including Apple, Tesla and Microsoft. The startup was reportedly developed at Stanford University and is headquartered in San Francisco.

Indian American CTO Rhea Malhotra is also playing a key role in Kita’s expansion. Following the funding announcement, Malhotra said the company is looking to hire highly skilled engineers interested in solving real-world problems involving computer vision, financial technology and global financial systems.

The company is offering selected engineering hires compensation ranging from $160,000 to $220,000 along with equity. Kita is also offering relocation support for employees moving to San Francisco and has promoted a $9,000 employee referral bonus as part of its recruitment efforts.

The latest funding round included participation from Golden Gate Ventures, BEENEXT, Kaya Founders, U.S. News Digital Ventures and Apex Star Capital, the family office of Xiaomi co-founder Lin Bin. Strategic angel investors, including Tala founder Shivani Siroya and Philippine business leader Lisa Gokongwei-Cheng, also participated.

Kita's founders said the company began as a small project while they were studying computer science at Stanford. Co-founder Carmel Limcaoco said she and Malhotra became close friends after sharing an apartment in Boston before starting to build the company during their graduate studies.

The startup's broader goal is to improve access to credit by helping lenders make faster and potentially more inclusive decisions. By automating complex financial analysis, Kita believes lenders can reach borrowers who may not have sufficient traditional credit histories but could still be capable of repaying loans.

The new funding gives Kita additional resources to expand its technology, grow its team and enter more lending markets. As financial institutions increasingly explore AI for underwriting and risk assessment, the company is positioning itself at the intersection of artificial intelligence and global financial inclusion.