What is Lendio?
Founded in 2011 and headquartered in Lehi, Utah, Lendio operates a franchise model specializing in small business loans. The company facilitates access to various financial products, including lines of credit, short-term loans, business credit cards, and merchant cash advances. Lendio's platform connects small businesses with a network of lenders, streamlining the application and approval process. The company's focus on empowering small businesses through accessible financing solutions has positioned it as a key intermediary in the financial technology landscape.
How much funding has Lendio raised?
Lendio has raised a total of $108M across 6 funding rounds:
Series A
$6M
Other Financing Round
$2M
Series B
$4.5M
Series C
$20.5M
Series D
$20M
Series E
$55M
Series A (2011): $6M with participation from Tribeca Venture Partners and GSA Venture Partners
Other Financing Round (2011): $2M led by Square 1 Bank
Series B (2013): $4.5M supported by Tribeca Venture Partners and Highway 12 Ventures
Series C (2015): $20.5M featuring Highway 12 Ventures, North Hill Ventures, Blumberg Capital, Pivot Investment Partners, Tribeca Venture Partners, Runa Capital, and Napier Park's Financial Partners Group
Series D (2016): $20M backed by Tribeca Venture Partners, North Hill Ventures, Blumberg Capital, Napier Park, Comcast Ventures, and Stereo Capital
Series E (2020): $55M with participation from Stereo Capital, Signature Bank, Comcast Ventures, Mercato Partners, Napier Park Global Capital, Runa Capital, and Blumberg Capital
Key Investors in Lendio
Tribeca Venture Partners
Tribeca Venture Partners is a multi-stage venture capital firm based in New York that partners with entrepreneurs to leverage emerging technologies and innovative business models. The firm is dedicated to supporting gritty and determined founders in building category-defining companies.
North Hill Ventures
North Hill Ventures specializes in investments within the financial services and financial technology sectors. The firm provides entrepreneurs with proven investment experience and extensive knowledge to help them build successful, market-leading companies.
Comcast Ventures
Comcast Ventures, founded in 1999, is the venture capital affiliate of Comcast Corporation. Based in North America with offices in San Francisco, New York, Philadelphia, and Los Angeles, the firm focuses on investing in consumer, enterprise, and frontier technology companies.
What's next for Lendio?
The recent major strategic investment signals Lendio's ongoing trajectory toward scaling its operations and potentially expanding its service portfolio. This capital infusion is likely to be directed towards enhancing its technology platform, broadening its network of lending partners, and increasing its market reach. As Lendio continues to mature, further strategic partnerships and potential acquisitions may be on the horizon, aimed at solidifying its leadership in the small business financing market and adapting to evolving economic conditions.
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