Lendio operates a high-tech marketplace that matches small-business borrowers with a pool of suitable lenders via a 15-minute online application, machine learning matching, and expert loan review—often facilitating funding within 24 hours. The company also offers an online bookkeeping platform, Sunrise by Lendio, used by hundreds of small-business owners and slated for deeper integration with its loan marketplace. Lendio plans to use new capital to expand its lender services division, enhance its white-labeled SaaS application for banks and lenders, and grow bookkeeping and lender-facing offerings. Over the past two years Lendio’s year-over-year growth has averaged 75%, and it has become the largest small-business financing marketplace in the U.S. To date the company has facilitated over 100,000 loans totaling $2 billion. Lendio reports that its small-business clients have generated an estimated $6.5 billion in economic output and created nearly 45,000 jobs. Lendio is a Salt Lake City, UT-based online marketplace that helps small-business owners find short-term specialty loans and long-term low-interest traditional loans. The company offers a free online service intended to decrease the time and effort it takes to secure funding. Led by founder and CEO Brock Blake, Lendio connects borrowers with loan options via its platform. In Q3 2016 the platform facilitated over $63M in loans to more than 2,900 businesses across 46 states. The company intends to use recent funding to accelerate growth through marketing, sales and brand awareness. Lendio operates a free online marketplace that matches small business owners with a range of loan products, from short-term specialty financing to long-term low-interest loans, delivered within minutes. The company is led by founder and CEO Brock Blake. In March 2015 Lendio raised $20.5M in funding to support growth. Management says the proceeds will be used to accelerate online innovation, expand its partnership program and grow its team of trusted loan advisors. The company also announced board additions tied to the round. No operating metrics or prior financing details are provided in the article. Lendio, founded by Brock Blake and Levi King in 2011, operates a marketplace that helps Main Street small businesses find suitable loans and lenders. The platform aggregates more than 3,500 loan options across hundreds of partner lenders and asks business owners four questions to build a profile and surface appropriate products. It integrates via APIs with tech-savvy lenders to enable often same-day pre-approval and to streamline underwriting handoffs. Lendio says it has helped hundreds of thousands of small business owners connect with loans and reports roughly a 70% approval rate for applicants; the platform also offers tools to help unapproved applicants prepare. The company positions itself as a next-gen broker that reduces friction and cuts out traditional middlemen. Financially, Lendio recently closed new financing that increased its total invested capital. Lendio, formerly FundingUniverse.com, operates a marketplace that connects small-business owners with banks, credit unions, and other lending sources. The platform uses technology to identify loan categories and the specific lenders most likely to approve an application based on credit, industry, revenue, and other parameters. Less than three months after its debut, users had requested about $1 billion in business loans through the service. Lendio says it works with roughly 3,500 lenders and provides access to more than 13,000 lending options. The company has been expanding its executive team, adding hires such as Zinch co-founder Brad Hagen and Nelson James of SEO.com. It has also offered promotional pricing to early users (e.g., a TechCrunch reader discount) as it scales adoption.

Total raised

$108M

Funding rounds

7

Latest round

Debt Financing

Latest activity

Mar 2020