Parlay’s core product is a SaaS Loan Intelligence System (LIS) that complements existing Loan Origination Systems to streamline digital customer onboarding, information verification, and AI-powered decision management for SBA and small business loans. The LIS expedites eligibility verification and identifies best-fit loan products for applicants, aiming to unlock legacy bottlenecks that have limited community lenders. The company says its platform enables lenders to increase loan volume, improve operational efficiency, and maximize profitability without increasing risk. Parlay positions its technology as a way for community banks and credit unions to better compete and serve local businesses in the $1.4 trillion small business lending market. The company plans to expand product development, deepen integrations with existing systems of record, and grow its network of community lenders and mission-driven financial institutions. Stephen Schroder will join Parlay’s board as the company continues to scale and deepen partnerships with JAM FINTOP network banks. Parlay is an Alexandria, VA-based embedded fintech software company that provides a small-business loan readiness platform for community banks and credit unions. Its platform helps small businesses maximize their eligibility for loan products while increasing loan quality, throughput, and efficiency for lenders. The company partners with community banks and credit unions to extend more loans to small businesses. Parlay raised $1.3M in a Pre-Seed round. CEO Alex Mcleod said the pre-seed funding enables the company to continue fulfilling its mission of partnering with community banks and credit unions to extend more loans to small businesses.

Total raised

$3M

Funding rounds

2

Latest round

Seed

Latest activity

Jun 2025