Axios Exclusive: Lending tech provider Ned raises $4.2M
Axios Exclusive: Lending tech provider Ned raises $4.2M
Abstract from Axios
Ned, a startup providing infrastructure to small-business lenders, has raised $4.2
million in seed funding, CEO Dave Silverstein tells Axios exclusively.
Why it matters: Private credit and direct lending have become popular options to fill a
financing gap for SMEs.
How it works: Ned helps non-bank lenders — primarily non-profits lending to small
businesses — make financing decisions based on borrowers' revenue and cash flow data.
Its white-label origination platform handles top-of-the-funnel data collection through
open banking APIs and provides lenders with cash flow underwriting and loan-sizing
capabilities…
"We want to show business performance from the moment an applicant comes in
through a lender's front door to the moment they've finalized their repayment to the
lender," Silverstein says.
🔗 Read the full article on Axios
Published
October 22nd, 2024
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