Fundera, a NYC-based online credit marketplace for small businesses, raised $11.5m Series B funding.
The round, which brough total funding to $15m, was led by Susquehanna Growth Equity with participation from previous investors including QED Investors, Khosla Ventures and First Round Capital. In conjunction with the funding, Scott Feldman, Managing Director at Susquehanna Growth Equity, joined Fundera’s Board of Directors.
The company intends to use the funds to expand its team of dedicated loan specialists and engineers, develop and refine its borrower experience, and continue to build new products for borrowers to choose the best loan for their business.
Co-founded in 2013 by Jared Hecht and Rohan Deshpande, Fundera an online marketplace that connects small business owners with funding providers. The company utilizes software to create a common application which enables borrowers to apply to multiple pre-screened lenders in minutes, clearly presenting funding options while encouraging competition among lenders.
Launched in February 2014, to date, the platform has helped secure over $60 million in credit to more than 1,200 small business owners across the country in industries including retail, restaurants, and creative contractors.