Lendio: Closes $55M Series E Funding Round Led
- Lendio is a free online marketplace that leverages machine learning to help business owners find the right small business loans within minutes
- Announced it has secured $55 million in capital, including $31 million in equity led by Mercato Partners’ Traverse Fund
- The equity round oversubscribed by existing investors also including Napier Park Financial Partners, Comcast Ventures
- The funding enables Lendio to increase the scope and precision of its loan marketplace while expanding new bookkeeping
- Lendio uniquely solves the problem of inefficient capital for small businesses by bridging lenders and also borrowers
- Based on a software-as-a-service (SaaS) partnership model, the lender services division provides banks, credit unions
