LendingFront

lendingother lending

FOUNDING YEAR: 2014
LOCATION:
Last Update: 04/07/2020

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About

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

MEDICI Analysis

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.

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

One time setup cost, annual subscription, data services

PRIMARY 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.

INTELLECTUAL PROPERTY

Patent(s) NOT_FILED

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.

Traction

REVENUE

$500k - $999k in 2016

REVENUE COMMENT:

Expect to close 4 more customer this year, so expect 10 by year end

ACTIVE USERS:

2 Million in 2016

ACTIVE USERS COMMENT:

Our customers are processing over 5,000 apps per month and have deployed over 120 million in loans.

People

FOUNDERS

Jorge Sun

Dario Vergara

BOARD MEMBERS AND ADVISORS

Peter Schnall

Andres Barreto

Erik Stettler

Ofer Bar-Zakai

Scott Jenkins

Joe Garea

NUMBER OF EMPLOYEES

11-50

INVESTORS:

Contour Venture Partners

Las Olas Venture Capital

Newark Venture Partners

Revel Partners

SixThirty

SixThirty

Struck Capital

Struck Capital

UMB Banks

ValueStream Labs

COMMENT:

We are the only management team that had extensive lending experience, over 10 billion is loans originated as well as the only management team that has successfully built a technology platform from scratch,scaled it successfully (OnDeck). LendingFront is taking our experience in lending,technology,building the next generation technology to help banks have access to the same level of services currently only available to Fintechs.

Momentum

FUNDED

YES

TOTAL FUNDING

$4 M

DATE OF LAST FUNDING

Jan 2019

FUNDING SERIES

SERIES A  · $4 M  · Jan 2019

LISTED

NO

COMMENT

An undisclosed amount raised in venture round in Feb 2017.

For Investors

FUNDING NEEDED:

$1.5 M

USES OF FUNDS RAISED:

1. Client Management

2. New Products

3. Customer Integration

EXIT STRATEGY

Public or acquisition

MONTHS LEFT WITH CURRENT CASH BURN RATE:

18 months from 24 Aug, 2018

COMPETITORS:

Mirador Financial

Akouba

Innovation Programs

BASICS

FOUNDING YEAR:

2014

LOCATION:

Views:

247 VISITORS | 1172 VIEWS
LATEST FUNDING ROUND

$4 M

TOTAL EMPLOYEES
11-50

About

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

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

MEDICI Analysis

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.

Focus+
Momentum+
Traction+
People+
For Investors+
Other+

Innovation Programs

Join the exclusive global FinTech community

Be a part of the global FinTech community on Slack

LendingFront

About

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 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

One time setup cost, annual subscription, data services

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

Platform built on AWS and Python. It is a set of web services and APIs. The platform is highly modular and easy to deploy.

KEY DIFFERENTIATORS

Proprietary technology and architecture. Built by experts with over 20 years in credit, bank operations and technology experience

PRIMARY CUSTOMER TYPE

Enterprise - Banks or Financial Institutions

PRODUCT ATTRIBUTES

SaaS

White label

Back Office

Customer facing

STRATEGIC CLIENTS AND PARTNERSHIP

Detalus : Strategic Channel Partner

Casey Group : Strategic Channel Partner

People

FOUNDERS

Jorge Sun

Dario Vergara

NUMBER OF EMPLOYEES

11-50

KEY EMPLOYEES:

CEO, FOUNDER: Jorge Sun

CTO, FOUNDER: Dario Vergara

TEAM COMMENT:

We are the only management team that had extensive lending experience, over 10 billion is loans originated as well as the only management team that has successfully built a technology platform from scratch,scaled it successfully (OnDeck). LendingFront is taking our experience in lending,technology,building the next generation technology to help banks have access to the same level of services currently only available to Fintechs.

BOARD MEMBERS AND ADVISORS:

Peter Schnall, Andres Barreto, Erik Stettler, Ofer Bar-Zakai, Scott Jenkins, Joe Garea

INVESTORS:

Contour Venture Partners

Las Olas Venture Capital

Newark Venture Partners

Revel Partners

SixThirty

SixThirty

Struck Capital

Struck Capital

UMB Banks

ValueStream Labs

Momentum

FUNDED

YES

TOTAL FUNDING:

$1.5 M

LISTED

NO

FUNDING SERIES
Seed May 2016 --- USD1.5 M at a USD7 Mvaluation

Comment on Valuation

Note, with a 7M Cap Value Stream Labs Struck Capital Las Olas VC UMB Bank Sixthirty Fintech Fund Value Stream Labs Struck Capital Las Olas VC UMB Bank Sixthirty Fintech Fund