Fundera operates an online marketplace and brokerage that connects small businesses with a network of 25+ lenders to shop for loans without leaving its site. The company charges lenders a 1–3% origination fee rather than taxing borrowers, aiming to bring transparency to a fragmented SMB lending market. Fundera has helped secure more than $60 million in credit for over 1,200 small businesses since launch. The company joined a coalition to introduce the Small Business Borrowers Bill of Rights to promote responsible practices in the space. Management says the new funding partner will help accelerate growth and bring consumer-side analogs to SMB lending. The business model combines product and engineering integrations with lender partners to provide a seamless customer experience. Fundera is an online marketplace for small business loans that lets SMB owners complete one common application to be matched with potential lenders. The platform collects data points such as business age, annual revenue, approximate credit score, and accounts receivable to power pre-approvals. Once applicants submit information, Fundera says it can pre-approve and match borrowers with lenders in seconds, shortening funding timelines from months to days. The company charges lenders a 1–3% origination fee rather than imposing higher fees on borrowers. In beta testing Fundera matched 200 business owners with lenders and facilitated nine loans. The service was launched by Jared Hecht with cofounders Rohan Deshpande and Andres Moran and has raised a total of $3.4 million.

Total raised

$15M

Funding rounds

2

Latest round

Series B

Latest activity

Sep 2015