# Honeycomb Credit

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/honeycomb-credit

- Industry: Financial Services
- Headquarters: Pittsburgh, US
- Website: www.honeycombcredit.com
- Total disclosed funding: $11M
- Latest round: Seed (Jun 18, 2024)
- Investors on record: 10

## About

Based in Pennsylvania, US, and founded in 2017, Honeycomb Credit, Inc. operates as a financial technology platform where local businesses allow their customers to borrow expansion loans. In March 2021, Honeycomb Credit, Inc. raised USD 1.75 million in seed funding from the American Family Insurance Institute for Corporate and Social Impact, Flight Ventures, K50 Ventures, Reinforced Ventures, and Urban Redevelopment Authority of Pittsburgh, with participation from Innovation Works and individual investors. The company has raised a total of USD 3.6 million in funding. George Cook is the CEO of Honeycomb Credit, Inc.

Honeycomb Credit, Inc. provides growth capital to under-banked small business owners, especially underserved entrepreneurs who have historically experienced barriers accessing traditional capital. The company offers a custom marketing strategy for customers' investment crowdfunding campaigns to generate funds from USD 15,000 to more than USD 500,000. In 2020, the company created 120 loan campaigns where 33% average revenue of the businesses increased after running campaigns. 

Honeycomb Credit, Inc. plans to use its proceeds from March 2021 funding to expand the community-based small business financing model nationwide.

## Funding rounds

- Seed, Jun 18, 2024, $6M — SustainVC, American Family Insurance Institute for Corporate and Social Impact, Mudita Venture Partners
- Seed, Dec 7, 2023, $1.6M — Spring Point Partners, New Community Transformation Fund
- Seed, Mar 15, 2021, $1.8M — Urban Redevelopment Authority of Pittsburgh, Flight Ventures, Innovation Works, Reinforced Ventures, Actions Capital, American Family Insurance Institute for Corporate and Social Impact
- Seed, Jul 27, 2020, $0.1M — Innovation Works
- Seed, Nov 1, 2019, $0.5M — Innovation Works
- Seed, Jun 8, 2018, $1M — Innovation Works
- Angel, Mar 23, 2018, $0.1M — Innovation Works
- Angel, Jul 10, 2017, $0.1M — Innovation Works

## Investors

- Innovation Works (https://capitalatlas.ai/funds/innovation-works) — Angel, Seed
- Urban Redevelopment Authority of Pittsburgh — Seed
- Flight Ventures (https://capitalatlas.ai/funds/flight-ventures) — Seed
- Reinforced Ventures (https://capitalatlas.ai/funds/reinforced-ventures) — Seed
- Actions Capital (https://capitalatlas.ai/funds/actions-capital) — Seed
- American Family Insurance Institute for Corporate and Social Impact (https://capitalatlas.ai/funds/american-family-insurance-institute-for-corporate-and-social) — Seed
- Spring Point Partners — Seed
- New Community Transformation Fund (https://capitalatlas.ai/funds/new-community-transformation-fund) — Seed
- SustainVC (https://capitalatlas.ai/funds/sustainvc) — Seed
- Mudita Venture Partners (https://capitalatlas.ai/funds/mudita-venture-partners) — Seed