# Lendio

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/lendio

- Industry: Financial Services
- Headquarters: Lehi, US
- Website: www.lendio.com
- Total disclosed funding: $82M
- Latest round: Series E (Feb 27, 2020)
- Investors on record: 11

## About

Lendio, Inc. is a small business financing platform that connects entrepreneurs with a broad network of lenders to facilitate access to funding through a streamlined online application process.Founded in 2011 in Lehi, US, Lendio operates as a financing platform that assists small businesses in securing funding. Notably, the company has not undergone any major pivots in its business strategy. Lendio's co-founders include Brett Child, Brock Blake, Levi King, and Trent Miskin, with Brock Blake currently serving as CEO. Since its inception, Lendio has successfully completed a total of 9 deals, raising USD 32.00 mn in its latest growth funding round on March 10, 2022, with The Cynosure Group as the investor. In total, Lendio has raised USD 32.00 mn.Lendio operates as a comprehensive small business financing platform that connects business owners with an extensive network of over 75 lenders and financial partners. Their core service is the Lendio Marketplace, which allows users to apply for various funding options through a single online application. The platform serves a diverse clientele of small business owners across multiple industries, including retail, construction, healthcare, and more, aiming to address their unique financing needs. By leveraging advanced technology, Lendio facilitates a seamless process for matching businesses with suitable lenders, thus enabling expedited access to funding. The service has been available since Lendio's inception in 2011 and primarily operates in the United States, providing broad coverage for small business lending throughout various states.Lendio generates revenue primarily through referral fees from lenders based on successful loan placements and funded transactions. The transaction structure typically involves a B2B model, where Lendio acts as an intermediary connecting small businesses with lenders. When a business applies for funding through the Lendio Marketplace, the company evaluates the application and presents it to multiple lenders who then propose financing options tailored to the business’s needs. Revenue is derived once a business accepts a loan offer and the funds are disbursed, with Lendio receiving compensation for its role in facilitating the transaction. The platform emphasizes transparency, guiding clients through the funding process while ensuring they are well-informed about the terms and conditions of their agreements.Lendio plans to leverage the recent growth capital funding of USD 32.00 mn raised in March 2022 to further develop its services and product offerings. The company aims to design and launch new financial products in the upcoming year, enhancing its marketplace capabilities. Additionally, Lendio is focusing on expanding into new geographic regions, specifically targeting underserved markets in the Midwest and Southeast by the end of 2023.

## Funding rounds

- Series E, Feb 27, 2020, $31M — Comcast Ventures, Blumberg Capital, Mercato, Runa Capital, Napier Park Global Capital, Stereo Capital
- Series D, Oct 25, 2016, $20M — Comcast Ventures, Blumberg Capital, North Hill Ventures, Tribeca Venture Partners, Napier Park Global Capital, Stereo Capital
- Series C, Mar 24, 2015, $21M — Highway 12 Ventures, Blumberg Capital, North Hill Ventures, Runa Capital, Tribeca Venture Partners, Napier Park Global Capital, Pivot Investment Partners
- Series B, Aug 28, 2013, $4.5M — Highway 12 Ventures, Runa Capital, Tribeca Venture Partners
- Series A, Feb 18, 2011, $6M — Highway 12 Ventures, GSA Venture Partners

## Investors

- Highway 12 Ventures (https://capitalatlas.ai/funds/highway-12-ventures) — Series A, Series B, Series C
- GSA Venture Partners (https://capitalatlas.ai/funds/gsa-venture-partners) — Series A
- Runa Capital (https://capitalatlas.ai/funds/runa-capital) — Series B, Series C, Series E
- Tribeca Venture Partners (https://capitalatlas.ai/funds/tribeca-venture-partners) — Series B, Series C, Series D
- Blumberg Capital (https://capitalatlas.ai/funds/blumberg-capital) — Series C, Series D, Series E
- North Hill Ventures (https://capitalatlas.ai/funds/north-hill-ventures) — Series C, Series D
- Napier Park Global Capital (https://capitalatlas.ai/funds/napier-park-global-capital) — Series C, Series D, Series E
- Pivot Investment Partners (https://capitalatlas.ai/funds/pivot-investment-partners) — Series C
- Comcast Ventures (https://capitalatlas.ai/funds/comcast-ventures) — Series D, Series E
- Stereo Capital (https://capitalatlas.ai/funds/stereo-capital) — Series D, Series E
- Mercato (https://capitalatlas.ai/funds/mercato) — Series E