Nav, a San Mateo, CA-based online financing marketplace, raised a further $13m in Series B funding.
The round, which brought the total amount raised in the Series B round to $38m, was led by Goldman Sachs Principal Strategic Investments with participation from CreditEase Fintech Investment Fund, Point72 Ventures, and Clocktower Technology Ventures. Experian led Nav’s previously announced $25m Series B funding, with participation by Crosslink Capital, Tencent Holdings and other existing investors. As part of this strategic investment, Rana Yared, Managing Director in the Goldman Sachs Principal Strategic Investments group, has joined as a Nav board observer.
The company will use the funds to introduce more business owners to its platform and drive additional data insights for their customers.
Led by Levi King, co-founder and CEO, Nav provides more than 200,000 small business owners with a platform to take control of their financial health and access the financing they need to grow their business. Along with providing both business and personal credit score data tied to personalized tips and advice, the company recently launched its free Business Loan Reality Check mobile app, which evaluates a business owner’s cash flow to give additional insights into their borrowing power.
Nav also has offices in Salt Lake City.