Lending Express, a San Francisco, CA-based AI-powered marketplace for business loans in the United States and Australia, secured $2.7m in seed funding.
Backers included Entrée Capital, iAngels, and existing investors.
The company intends to use the funds to build out its innovative loan-matching technology and scale up operations in the United States and Australia.
Led by Eden Amirav, CEO and co-founder, Lending Express has developed technology that matches businesses with the most relevant lenders and provides a funding solution at no cost. Through proprietary AI-powered AlgoScore™ and MatchScore™ algorithms, the company predicts the likelihood of a potential business to be funded and match the most relevant SMBs with the right lender, financial solution, and terms, even providing lenders with the most qualified customers and thus increasing conversion rates from application to loan.
Lending Express has over 55,000 loyal customers and over $40m in SMB loans funded through the platform.