LendingFront, a NYC-based small business lending management platform, received its first institutional investment from Las Olas Venture Capital.
The amount of the deal was not disclosed.
The company intends to use the funds to continue to develop the platform and expand operations.
Led by Jorge Sun and Dario Vergara, LendingFront provides lending automation platform that enables banks to fasten the decision process of making small business loans. Its features aim to simplify the processing, pricing, loan management and credit monitoring of cash flow loans enabling lenders to offer short term capital more profitably and efficiently.