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Fundera is an online marketplace for small business loans founded in 2014. The company matches small business owners with business loans and other financial products.[1]
History
[edit]Fundera was launched in February 2014 by co-founders Rohan Deshpande, Andres Moran, and Jared Hecht, co-founder of GroupMe. At the time of its launch, Fundera had received a total of $3.4 million in funding from Khosla, First Round Capital, Lerer Ventures, SV Angel, and various angel investors.[2]
In September 2015, Fundera received Series B funding, raising a total of $11.5 million from nine investors, including lead investor Susquehanna Growth Equity.[3]
From 2014 to 2017, Fundera grew by 4,336%, ending 2018 with $15.6 million in revenue.[4]
Products and Services
[edit]Fundera’s partners offer a range of products, including merchant cash advances, short-term loans, lines of credit, medium-term loans, SBA loans, equipment loans, invoice financing, and personal loans for businesses.[5] Fundera is lender-neutral, meaning it is not incentivized to push one loan over the other. [6]
Businesses who apply for financing through Fundera work with a loan specialist to see what products they qualify for.
In the wake of the coronavirus pandemic and after the passage of the CARES Act, Fundera partnered with lenders to package and process PPP loan applications for small businesses.
References
[edit]- ^ "Fundera - Real Customer Reviews". Best Company. Retrieved 2020-07-23.
- ^ "GroupMe Founder Gets $3.4M to Make Small Business Loans More Accessible With Fundera". TechCrunch. Retrieved 2020-07-23.
- ^ "Fundera Picks Up $11.5 Million In Series B Funding". TechCrunch. Retrieved 2020-07-23.
- ^ Fuscaldo, Donna. "Fundera In Growth Mode Without The Need For VC Funding". Forbes. Retrieved 2020-07-23.
- ^ "Fundera Loans Review 2020: What It Is & How It Compares". Merchant Maverick. Retrieved 2020-07-23.
- ^ "Fundera - Real Customer Reviews". Best Company. Retrieved 2020-07-23.