How Kaaj is Accelerating Small Business Lending
Utsav Shah first met Kristen Castell at deBanked CONNECT MIAMI this past February. At the time, Shah and his partner Shivi Sharma were freshly promoting a new AI technology to simplify small business lending. It’s called Kaaj, described as a core intelligence layer that bolts into a lender or broker’s CRM and handles all of the early-stage application intake and underwriting work. Shah had been familiar with the fintech accelerator Castell directs, the Center for Advancing Financial Equity (CAFE), which she was speaking about at the conference, but he had never actually met her in person until then.
“That’s really when we learned deeply about what CAFE’s mission is and how it works with a lot of startups, a very unique mission and very unique approach to work with startups and bring the ecosystem together,” said Sharma. “So we loved it and decided to apply this Fall.”
They applied into the exclusive accelerator program and were one of six companies to be selected, an honor considering hundreds of companies apply for entry on a bi-annual basis. As previously noted on deBanked, it’s an eight-week program, some of which takes place on location at the Fintech Innovation Hub on the University of Delaware campus. The rest is virtual but there are in-person field trips like a recent one to Washington DC, for example. deBanked has sponsored the last three accelerator cohorts which in the most recent cohort includes headline names like JPMorgan, PNC, Discover, Barclays, Capital One, M&T Bank, WSFS BANK, BNY Mellon, Prudential, Fulton Bank, County Bank, Best Egg, United Way, NeighborGood Partners, and the Delaware Bankers Association.
Kaaj, based in San Francisco, was already getting noticed beforehand. The company won the Fintech Meetup Startup Pitch Competition in March and secured a $50,000 prize, for example. Their technology is especially suited for equipment financing companies, MCA providers, small business lenders, SBA lenders, factors, and more.
“So imagine that you’re a lender, and you get hundreds of applications in a day, and you don’t really know where you want to focus your time on,” Shah said to deBanked. “‘What do these 100 deals mean for me, for my business? Are they even qualifying against my criteria, etc.’ So what Kaaj does, it provides very quick intelligence, within the first three minutes.”
Shah explained that as soon as someone submits a package with documents, they get analyzed from top to bottom, like KYC/KYB, the bank statements, and more. This helps lenders (and brokers) decide how to prioritize their time. Utsav’s background in technology has played a major role in building this out as he comes with a decade of AI experience and was building autonomous cars before building Kaaj.
“Time wins deals or time kills deals,” said Shah. “Either way that you want to look at it, if we can give that time back to them, if we can reduce that turnaround time on each individual deal and focus on those higher profitability deals for these companies or these lenders, then they can start really feeding the top line and the bottom line, because they’re not having to hire a bunch of folks.”
Sharma said that equipment finance is slightly more complex than MCA, for example, but that as a $1.4 trillion industry, it’s a market that’s ripe for innovation. Sharma used to work in commercial lending herself and has seen firsthand how manual processes and outdated technology slow things down and hurt not only the lenders but the borrowers in the process.
“I have worked on small business lending, commercial lending, payments fraud, onboarding fraud, a lot of that,” Sharma said. “I spotted a lot of challenges in that space and a clear lack of good technological solutions that really help these lenders scale efficiently.”
Shah, meanwhile, said that ultimately it’s about helping the end-user, the business borrower.
“We are very focused on solving for small businesses, because the final mission of the company is to get better access to capital for small businesses,” he said.
Last modified: October 8, 2025
Sean Murray is the President and Chief Editor of deBanked and the founder of the Broker Fair Conference. Connect with me on LinkedIn or follow me on twitter. You can view all future deBanked events here.