Pave operates an online lending platform focused on Millennials, offering personalized, technology-enabled borrowing. The company uses a holistic underwriting approach that considers more than traditional FICO scores to extend credit to individuals with limited credit histories. Loans are originated by Cross River Bank and range from $3,000 to $25,000 with APRs starting at 6% and two- or three-year terms. Pave plans to use the Series A proceeds to grow its team and expand its financing program to underserved and overlooked borrowers. The company was founded in 2012 and is based in New York City. Pave previously secured a $300 million financing to fund loan originations and is backed by investors including Maxfield Capital, RPM Ventures, and Seer Capital.

Total raised

$8M

Funding rounds

1

Latest round

Series A

Latest activity

Apr 2016