Vero Technologies, a New York-based provider of a wholesale financing technology and loan servicing platform, raised $8.5M in Series A funding.
The round was led by BankTech Ventures, with participation from Sopra Steria Ventures, Arcadia Funds, Antler Global, AAF, and the Independent Community Bankers Association.
The company intends to use the funds to accelerate the growth of its lending-as-a-service (LAAS) offering, giving banks a digital solution to the financial processes that stand in the way of their expansion in the wholesale financing space.
Led by CEO John Mizzi, Vero Technologies is a provider of wholesale financing solutions for dealers across auto, marine, powersports, agricultural equipment, among other verticals of manufactured goods. Vero partners with banks and specialty finance companies to enable its lending-as-a-service program for dealers of manufactured goods. Its platform offers real-time inventory and financial analytics, advanced risk management capabilities, and streamlined operational processes.
FinSMEs
20/09/2023