Lendflow, an Austin, Texas-based embedded small and medium business lending company, raised a $10.8m Series A funding round.
The round, which brought total funding raised since its 2019 inception to over $13m, was led by Underscore VC with participation from Uncorrelated Ventures, Y Combinator, 2048 Ventures, Knoll Ventures, I2BF, Hack VC and Navitas Capital.
The company intends to use the funds to expand its product suite with an improved customer experience and enhanced data services offerings to serve a broader group of customers in the U.S. and abroad.
Led by Jon Fry, CEO, Lendflow provides a white label solution that allows vertical SaaS technology companies servicing small and medium businesses (B2SMB) to build, enhance or embed financial products within their ecosystem and offer hyper-contextual financing solutions.
The company works with top vertical SaaS companies in construction, transportation, e-commerce and home services industries to help them launch lending services quickly and effectively. The platform includes:
- API and data services offerings that include KYB and credit verification, which allows customers to build credit programs directly within their existing lending platforms
- Code to minimize operational complexity, development resources, and time to market
- A white label solution that provides a native experience and allows vertical SaaS platforms to maintain brand control.