LendingFront moves forward with $4m funding
New York-based software provider LendingFront has raised $4 million in a Series A funding round.
The round was led by Information Venture Partners with participation from Newark Venture Partners, Revel Partners, Contour Venture Partners and existing investors Struck Capital, ValueStream Ventures and Las Olas VC.
Firm’s founders met OnDeck
The funding will be used to promote its cloud-based end-to-end white label software platform to banks and financial institutions. In addition, it wants to expand its team by hiring for sales, marketing and engineering roles.
Jorge Sun, co-founder and CEO of LendingFront, says the firm allows “banks to compete with technology-based lenders and keep up with the changing regulatory environment”.
Co-founders Sun and Dario Vergara (CTO) met while on the founding management team of OnDeck, with Sun serving as the company’s first chief credit officer and Vergara as the first head of technology. LendingFront was founded in 2014.
Information Venture Partners is a Toronto-based team of venture capital investors that focus on early-stage companies in B2B fintech. Current investments include BigID, Coconut Software, Flybits, Knowtions, PostBeyond, Q4, Sensibill, Verafin and YayPay.
