Fundera, the lending match-maker for SMBs, has helped secure funding for over 300 small businesses, with more than $12 million in loans funded.
The company originally launched in February 2014 as a service that paired SMBs looking for a loan with the lenders who could help them out. In the beginning, it was simply a matching service, but over the course of 2014 the company has transformed into an end-to-end product that handles every step of the process.
On average, it takes about 16 days for a company to get started on Fundera and secure funding. The company was founded by GroupMe founder Jared Hecht after his cousin, a restaurant owner, was having trouble securing a loan for his business. Looking to simplify the process, Hecht went from the messenger business into the world of finance.
Fundera is an online marketplace that connects small business owners with the best funding provider for their businesses. Fundera works with hand-picked, prescreened lenders to assemble the highest quality funding sources for small business owners and ensures borrowers receive fair terms and rates on each loan. The company was co-founded in 2013 by GroupMe co-founder Jared Hecht, successful software entrepreneur Rohan Deshpande and seasoned entrepreneur Andres Moran to bring transparency to the lending process. The company has raised $3.4 million from Khosla Ventures, First Round Capital, Lerer Ventures, SV Angel, and angel investors Strauss Zelnick, Rob Wiesenthal, David Rosenblatt and David Tisch, and is based in New York City.