LoanHero

lendingp2p lendingother lending

STATUS: Acquired/Merged
FOUNDING YEAR: 2014
LOCATION: United States
Last Update: 17/07/2020

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About

LoanHero has developed an innovative loan origination platform that solves a multibillion-dollar problem. By bringing marketplace lending to the point of sale, LoanHero provides better financing options for consumers purchasing goods and services including furniture, home improvement, auto repair, and elective healthcare. Through the integration of strategic lending partners in combination with a unique balance sheet/marketplace lending structure, LoanHero is able to offer instant decisions and the most competitive loan product available for each level of credit through one streamlined platform. LoanHero empowers merchants and lenders alike to become Heroes to the consumers they serve.

MEDICI Analysis

LoanHero was acquired by LendingPoint in Jan 2018, it has developed an innovative loan origination platform that solves a multibillion-dollar problem. By bringing marketplace lending to the point of sale, LoanHero provides better financing options for consumers purchasing goods and services including furniture, home improvement, auto repair, and elective healthcare.

Focus

PRODUCTS & SERVICES

P2P lending platform LoanHero is able to offer instant decisions and the most competitive loan product available for each level of credit through one streamlined platform.

MAIN CLIENTS

AAMCO,Laseraway,5th avenue,etc.

EXISTING PARTNERSHIPS

First Electronics Bank - to expand its operations nation wide.

COMMENT

The LoanHero marketplace serves as one platform with one financing application and multiple lenders. As the merchant completes an application, LoanHero will find the best possible financing option for that consumer and offer the merchant an approval in real-time.

Traction

VALUATION / MARKET CAP:

$16.67 M in 2016

People

FOUNDERS

Derek Barclay

Kristin Slink

BOARD MEMBERS AND ADVISORS

Candace Klein

Cliff Boro

Steve Connolly

Zalman Vitenson

Neil Senturia

Stephen Connolly

NUMBER OF EMPLOYEES

11-50

INVESTORS:

Alsop Louie Partners

EvoNexus

Mucker Capital

National Network of Angel Investors

ValueStream Ventures

Momentum

FUNDED

NO

TOTAL FUNDING

$2.9 M

DATE OF LAST FUNDING

Jan 2016

SEED & PRIOR FUNDING

$2.9 M

SEED CLOSED ON

Jan 2016

DEBT FUNDING

$20 M

LISTED

NO

COMMENT

Debt financing: $20 M

Innovation Programs

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