Nav, a small business marketplace lending platform, announced this week it has facilitated more than 20,000 small business credit approvals in 2017. Founded in 2012, Nav described itself as an early-stage fintech company that uses data to help business owners get more funding, lower their costs, and save time. Its online marketplace connects users to a range of business financing products, from credit cards to SBA loans to lines of credit, and uses machine learning to match entrepreneurs to the right product based on their credit and business profile.
“We’re growing fast, both with customers and as a company. Our team charges hard, but does it in a casual environment with lots of great perks. If you are a high-energy innovator, enjoy a collaborative environment and have the gusto to solve big challenges, we’d love to meet you.’
The company currently has more than 327,000 entrepreneurs now using its platform to manage their data and access capital. Over the past year, Nav has raised $38 million in equity capital to introduce more business owners to its platform and drive additional data insights for their customers. Levi King, Co-Founder and CEO of Nav, stated:
“There are dozens of lenders out there, but more than half of business owners still can’t get credit at the rates they want. Our model is different because we help them become better-qualified borrowers and dramatically reduce the friction of getting money. It’s not just a transaction for us; it’s a lifelong partnership.”
Nav has offices in Silicon Valley (San Mateo) and Salt Lake City (Draper), and is backed by leading VC firms, including Kleiner Perkins Caufield and Byers.