Lendio Raises $20.5M

Lendio has become the go-to hub for small business owners to obtain the financing they need to grow and thrive.

Just because Lendio specializes in setting up small businesses with the perfect loan options, doesn’t mean they don’t care about getting a little money for themselves.

Lendio has raised a $20.5 million round of funding led by Napier Park’s Financial Partners Group, with participation from Blumberg Capital, North Hill Ventures, Pivot Investment Partners, Tribeca Venture Partners, Runa Capital and Highway 12 Ventures.

More money doesn’t mean more problems. It means Lendio has an excellent opportunity to expand their business, all while welcoming two new members — Dan Kittredge, managing director at Napier Park, and Chris Gottschalk, principal at Blumberg Capital — to their board.

“Lendio has become the go-to hub for small business owners to obtain the financing they need to grow and thrive. Our focus is to provide three essential benefits to the business owner — offer a wide variety of loan options, speed up the process and reduce the time and effort it requires to get funded, and provide a white-glove trusted experience,” Lendio’s founder and CEO Brock Blake said in a statement. “Because we have served hundreds of thousands of business owners, we’ve been able to scale our business and improve the lending experience through an easy-to-use online matching platform, advanced machine learning and lender integrations.”

Published 3/24/2015