SOURCE: Dealstruck, Inc.

Dealstruck, Inc.

April 08, 2015 07:30 ET

Dealstruck Raises $58M in New Funding for Small Business Lending

New $50M Credit Facility From a New York City-Based Hedge Fund Managed by Brevet Capital Management, LLC and $8M Equity Raise From Trinity Ventures Brings Dealstruck's Total Amount Raised to More Than $100 Million

SAN DIEGO, CA--(Marketwired - Apr 8, 2015) - Online direct lender Dealstruck, Inc. today announced it has secured a new $50 million credit facility led by Brevet Capital Management, LLC ("Brevet Capital") and $8.3 million in equity funding led by Trinity Ventures. This latest round of funding will allow Dealstruck to provide growth capital to even more small businesses nationwide and complements other existing facilities, bringing Dealstruck's total lending capacity to more than $100 million.

Small business loans are used by more than 80 percent of businesses to help finance growth and expansion -- yet more than eight out of ten small businesses in the U.S. have been turned down by a bank or credit union when applying for a business loan. Dealstruck fills a necessary need in the market by offering fast, easy, transparent access to capital and a variety of flexible financing options to support businesses through all stages of their lifecycle. The company has loaned more than $50 million since its launch in October 2013, making it the fastest online direct lender to cross the $50 million milestone.

"In less than two years we've experienced record growth, having built our organization on meeting the unique needs of small businesses that could not otherwise secure capital from traditional lenders," said Ethan Senturia, co-founder and CEO of Dealstruck. "Recent IPOs by alternative lenders validate an increasing need for new sources of growth capital. We look forward to building on our growth to-date by setting even more businesses on the path to becoming bankable."

"We are proud to back Dealstruck on its mission to help small businesses grow," said Noel Fenton, Trinity Ventures. "When small businesses succeed, it's a win for everyone. Dealstruck is poised to help thousands of small- and medium-sized businesses grow."

"Brevet is pleased to provide financing to Dealstruck, an innovative leader in the online, direct lending arena focused on small businesses. The facility will allow Dealstruck to better support small businesses which are an important engine of economic growth," says Doug Monticciolo of Brevet Capital. "These businesses and their owners will greatly benefit from financial inclusion afforded by the Dealstruck platform."

Over the past year, Dealstruck has grown its staff 250 percent, expanded its customer base into 43 states and launched three core products -- a term loan, an asset-based line of credit, and an inventory line of credit. The company also forged new partnerships with The UPS Stores and Lending Tree to reach even more growing, successful businesses with unique financing needs.

Dealstruck was the first online lender to offer entrepreneurs the opportunity to access multiple credit products designed for growing, profitable small businesses looking for fast, fair and transparent financing.

About Dealstruck
The Dealstruck lending marketplace connects profitable, small- and medium-sized businesses (SMBs) with innovative credit solutions funded by individual and institutional accredited investors. Unlike the one-size-fits-all approach offered to them by banks and the high-cost, short-term credit offered to them by alternative lenders, Dealstruck provides growing SMBs with a suite of products that give them a credible and transparent path to bankable. Dealstruck is the first online lending platform to offer multiple products to SMBs, and the first to allow investors the freedom to choose specific investments. For more information, please visit

About Brevet Capital
Brevet is a leading provider of customized debt solutions to growth companies. Brevet provides direct financing solutions to small and middle market companies across a wide range of industries and has built its business on the principle that integrity and experience are the primary drivers for success in the financial services industry. Brevet was established in 1998 and is a recent winner of the 2014 Best Performing Middle-Market Institutional Investment Manager, USA and Best Performing Absolute Return Fund Since Inception. For more information, visit

About Trinity Ventures
Trinity Ventures is a top-tier venture capital firm combining business insight, practical expertise and a personal touch to help start-ups win big. For over eleven funds, Trinity has helped passionate entrepreneurs with breakthrough ideas transform markets and lives. Trinity's investment team takes a collaborative approach and believes in personal engagement, mutual respect and goal alignment to deliver out-sized returns to entrepreneurs and investors. The firm invests in early stage technology companies with emphases on Cloud and Mobile Infrastructure, Software-as-a-Service, Digital Media, and Social and Mobile Commerce. For more information, visit