Lendio, an online service that helps small business owners find lenders and secure loans, has closed a $6m Series A round of funding.
The round was led by Highway 12 Ventures and GSA Venture Partners, with participation from angel investor Josh James, founder of Omniture.
The company intends to use the funds to accelerate the public launch of its new online service that matches qualified small business owners to banks, credit unions, and other lending sources.
In conjunction with the funding, Glenn Michael of Highway 12 Ventures and Brian Hirsch of GSA Venture Partners will join Lendio’s Board of Directors.
Led by CEO Brock Blake, the company, which formerly operated as FundingUniverse.com, has developed a platform that is designed to match qualified small business owners with active banks, credit unions, and other lending sources. Using Lendio, owners are asked a series of questions in order to determine which loan category best suits their individual needs. Based on credit score, industry, revenue, timing, size of requested loan, and other parameters, the service matches the small business profile with a selection of lenders that offer loans that best fit the needs of the owner.