LendingFront

LendingFront

Lending | Other Lending
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  • FOUNDING YEAR: 2014
    LOCATION:
    United States
    REGION:
    NY
    Last Update:
    27 Jun, 2019
    Global presence:
    Spain, United States of America
    Company priority:
    In fund-raising mode.

Description

LendingFront platform unleashes the power and uniqueness of small business data to streamline and automate activities that are too costly and time consuming to execute by conventional means.
LendingFront (LF) is a highly sophisticated technology platform that can help digitally enable your small business lending operations. LendingFront provides solutions for credit originations, underwriting, servicing, monitoring and syndications

FOCUS


PRODUCTS & SERVICES:
LendingFront, Inc. develops a platform for business lending. Its platform offers application management, automated lending process, loan life cycle monitoring, loan accounting system, and customer information system solutions; and also provides customized business products,etc. It aims at a more efficient relationship management, faster decision making and less manual processing.
REVENUE MODEL:
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COMMENT
LendingFront’s platform automatically captures and structures social, credit bureau, fraud and cash flow data and presents the information in a way that is really simple to understand the health of the business.
PRODUCTS & SERVICES:
LendingFront provides banks a highly sophisticated cloud based lending platform to help them originate and service small business in a much more efficient and automated way. It's digital lending solution provides a set of web servicess that improves digital originations, underwriting, loan monitoring, loan servicing and document management.
REVENUE MODEL:
Viewable by subscribers only
TOP PROBLEM SOLVED:
Small business lending originations and operations is still a highly manual banker driven process. LF transforms this into a much more streamline online process which significantly reduces the operational costs, credit risk and process time associated with originating small business loans. LF reduces the number of steps to get a loan from 14 to 4 and reduces ops expenses by 2/3rds compared to legacy bank processes.
PRODUCT DEVELOPMENT STAGE
V2.0 or BEYOND
PRODUCT DEVELOPMENT COMMENT
Viewable by subscribers only
KEY DIFFERENTIATORS
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PRIMARY CUSTOMER TYPE
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PRODUCT ATTRIBUTES
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STRATEGIC CLIENTS AND PARTNERSHIP
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PEOPLE


FOUNDERS:
Jorge Sun, Dario Vergara
Board Members and Advisors:
Peter Schnall, Andres Barreto, Erik Stettler, Ofer Bar-Zakai
NUMBER OF EMPLOYEES:
11-50
INVESTORS:
Las Olas Venture Capital, SixThirty, Struck Capital, UMB Banks, ValueStream Labs
FOUNDERS:
Jorge Sun, Dario Vergara
NUMBER OF EMPLOYEES:
11-50
KEY EMPLOYEES:
CEO: Jorge Sun
CTO: Dario Vergara
TEAM COMMENT:
Viewable by subscribers only
ADVISORS:
Peter Schnall, Scott Jenkins, Joe Garea, Ofer Bar-Zakai

TRACTION


ACTIVE USERS:
2 Million in 2016
ANNUAL REVENUE:
$500k - $999k in 2018
REVENUE COMMENT:
Viewable by subscribers only
ACTIVE USERS/ACCOUNTS:
8 in 2018
ACTIVE USERS COMMENT:
Our customers are processing over 5,000 apps per month and have deployed over 120 million in loans.
LIVE USERS/TRANSACTIONS:
Viewable by subscribers only
CHANNEL STATUS
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NUMBER OF CLIENTS OR PAYING CUSTOMERS:
Viewable by subscribers only

MOMENTUM


FUNDED:
YES
DATE OF LAST FUNDING:
Feb 2017
SEED CLOSED ON:
Apr 2016
SEED PRIOR FUNDING COMMENT:
An undisclosed amount raised in convertible note in Apr 2016.
FUNDING COMPLETED:
Viewable by subscribers only
FUNDED:
YES
TOTAL FUNDING:
$1.5 Millions
LISTED:
Viewable by subscribers only
FUNDING SERIES:
Seed
May 2016
$1.5 Millions
at a $7 Millions valuation
Comment on Valuation
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Investors
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FOR INVESTORS

FUNDING NEEDED
$1.5 Millions
USES OF FUNDS RAISED
Viewable by subscribers only
Viewable by subscribers only
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EXIT STRATEGY
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MONTHS LEFT WITH CURRENT CASH BURN RATE
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COMPETITORS
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LATEST RESEARCH


Innovation Programmes

ValueStream
ValueStream
SixThirty
SixThirty

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