SOURCE: Equipment Vine

October 01, 2015 07:05 ET

SMB Online Credit Marketplace Raises $11.5 million in Series B Funding

HAWTHORNE, NJ--(Marketwired - Oct 1, 2015) - Fundera has announced the close of a $11.5 million Series B funding round led by Susquehanna Growth Equity. In total, the company, an online credit marketplace that primarily works as a match-maker for small business lending, has raised $15 million while helping over 1,200 small businesses secure over $60 million in loans since launch.

Founder Jared Hecht explains Fundera as, "a growing network of 25+ different lenders" where "a small business owner can secure a loan from almost every single one of them without ever leaving the Fundera website."

This news occurs alongside the inception of Equipment Vine, a similar online market place for business owners to shop for loans, but with one major difference. When small business owners submit an application to a lender, the lender submits a hard inquiry for their credit report. If they are shopping multiple lenders, business owners will subject themselves to multiple hard credit inquires that ultimately lower their credit score. Equipment Vine protects small business owners by using a single credit inquiry for their marketplace of multiple lenders.

In addition to the funding, Fundera has added SGE's Scott Feldman and QED's Frank Rotman to the Fundera board.

About Equipment Vine
Equipmentvine.com was set up to service the needs of the consumer and the interest of the lender. Small business owners can use Equipment Vine to navigate through the numerous lending options and find a loan that best suits their needs while keeping their credit score protected.

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