Numerated, a Boston, MA-based financial technology company offering banks a real-time lending and growth platform, closed $8m in additional financing.
Backers included existing investors Venrock, FIS and FINTOP Capital and new investor Raj Date, the founding Deputy Director of the Consumer Financial Protection Bureau (CFPB) and current Managing Director at Fenway Summer Ventures. In conjunction with the funding, Date will join Numerated’s Advisory Board.
The company, which has raised $17m in total funding to date, will use this additional financing to meet market demand and scale its operations.
Led by founder and CEO Dan O’Malley, Numerated provides a real-time lending platform, which gives banks the capabilities to offer businesses in their markets a fast and convenient way to secure financing.
Additionally, the platform’s integrated marketing and sales tools allow empower bankers and branches with actionable business information and pre-eligibility data to get new customers and expand share-of-wallet with current customers.
Numerated was developed in 2015 within and for Eastern Bank, and was spun-out as an independent company in 2017.