Camino Financial, a Glendale, CA-based online lending marketplace primarily focused on deploying capital to the largest underbanked business segment in the U.S., Hispanic-owned businesses, raised $750k in seed funding.
Backers included Collaborative Fund and others.
The company intends to use the funds to ramp-up its marketing efforts and build out its tech infrastructure for scalable growth.
Co-founded by twin brothers CEO Sean and VP of Operations & Finance Kenny Salas, while completing their MBAs at Harvard Business School, Camino Financial is a credit marketplace matching small businesses with affordable funding options offered by its network of lenders.
The company specializes in originating loans for first-time business borrowers who cannot get a loan from a bank, and provides ongoing credit monitoring and advice to allow clients to improve their business credit in an effort to qualify for a bank loan.
It particularly targets businesses owned by Hispanics considered their difficulties to get access to bank loans.