CrowdOut Capital, an Austin, Texas-based private lender for middle market companies, closed $2.5 million in growth funding.
The round was led by Alexander Schoenbaum and other members of CrowdOut’s investor network for debt offerings.
The company intends to use the funds to continue development of its technology, both front-end for investors and back-end for portfolio management and loan servicing.
Founded in 2015, CrowdOut Capital is a private lending syndication platform that offers profitable, middle market companies a way to raise capital. Its tech-enabled marketplace provides a solution for companies seeking non-bank lending while offering family offices, institutional investors and accredited investors the opportunity to invest in the private lending space on a deal-by-deal basis.
The company has led more than $165 million in originated loans since inception.