Become scores $12.5M Series A for its business lending marketplace
Become, the Israeli startup that operates a business lending marketplace to give SMBs more funding options, has closed $10 million in Series A investment. In addition, the company — formerly known has Lending Express — has raised $2.5 million in venture debt.
The round is led by Benson Oak Ventures and Magenta Venture, with participation from RIO Ventures Holdings, iAngels, and Entrée Capital. The debt funding is provided by Viola Credit.
Claiming that the small business lending landscape is “fundamentally flawed,” with 58% of SMBs denied access to funding, Become’s platform uses technology to give each business a “LendingScore” based on how fundable its algorithms think it is. This is supported by a personalised plan and monitoring system to help SMBs become more transparent and therefore viable to lenders.
The Become marketplace then allows multiple lenders to offer tailored offers to the businesses registered on the platform and compete for an SMB’s custom. “This gives each SMB the power to compare and choose the loan that’s right for them, directly from Become’s platform,” says the fintech.
“The lending sector is fundamentally flawed, with many SMBs unable to get loans,” explains Become founder and CEO Eden Amirav. “The process of applying
This post was originally published on this site