Lendflow, an Austin-based software launcher, has risen $ 10.8 million A series of funding allows any organization to become a fintech company.
The funding round, led by Underscore VC, is more than $ 13 million in total funding raised at the startup. Uncorrelated Ventures, Y Combinator, 2048 Ventures, Knoll Ventures, I2BF, Hack VC and Navitas Capital also participated in the round. Chris Gardner, a partner at Underscore VC, said of the company’s involvement:
“We are interested in high-performance teams that limit attention in specific areas of specialization because they achieve traction quickly and grow in a sustainable and manageable way. That’s why we’re excited to support Lendflow’s team. They have a deep understanding of customers, and have the knowledge and expertise to provide these platforms with an integrated platform that can build these companies to deepen customer relationships and provide personalized services that would otherwise have to be outsourced to banks that do not. intimate knowledge of the industry to ensure that these relationships are constantly successful. “
Lendflow was created in 2019 to help companies launch their loan products to effectively operate as a fintech company using a white label startup solution. Since then, vertical SaaS companies have been able to build financial products that can then be offered to small and medium-sized businesses by providing a better and personalized user experience and support. Jon Fry, CEO of Lendflow, mentioned this approach by saying:
“The idea of contextual borrowing is not new; the lending services on the market have been around for a long time, but historically, it took a tremendous amount of effort and time to become a lender of the product or service. We have built a platform for software companies to quickly launch financial products tailored to their audience. This encourages greater user engagement, increases revenue per user, and reduces downtime. We are pleased to be running with new partners as well as Underscore VC as we are committed to the SaaS vertical space, and additional experience will be key as we enter this next growth phase. “
With me fintech as the industry continues to evolve and grow millions of people and organizations around the world continue to move away from traditional financial platforms, offering companies the opportunity to direct their financial solutions can be a game changer. Lendflow believes that providing this opportunity can help drive innovation by opening up access to new financial opportunities.