Alternative financing has become increasingly mainstream with small business borrowers, as well as traditional and non-traditional lenders.
Lendio, a startup that matches small businesses with interested investors, helped reinforce the popularity of non-traditional lending techniques today by releasing some notable growth figures. Here is an overview:
- More than doubled its revenue growth from 2012 to 2013
- Provided approximately $1.15 billion in business loan matches in 2013 to help SMBs finance their endeavors
- The number of business owners who created a profile on Lendio’s platform grew by 350,000 in 2013
- Doubled its staff
- Received $4.5 million in Series B funding
- Named one of Utah’s Best Places to Work in 2013 by Utah Business Magazine
Additionally, last year it released two SaaS products for lenders, Lendio for the Loan Specialist and Lendio for the Team Lead. Both products are aimed to help lenders more efficiently manage their leads.
Lendio demoed at FinovateSpring 2011. You can check out its demo here.