FinMkt, Inc., a New York-based provider of technology and infrastructure for the online lending industry, announced on Wednesday it raised $5 million through its Series B preferred equity round, which was led by FINTOP Capital with participation from existing investors such as ManchesterStory Group and West Loop Ventures. Founded in 2011, FinMkt (formerly known as Crowdnetic) helps organizations rapidly deploy marketplace solutions in a timely, cost-efficient manner while ensuring the highest quality of technology and client support.
FinMkt facilitates the submission of online loan requests and the delivery of pre-qualified loan offers from multiple lenders via an online interface for the home improvement and retail services industries.
While sharing more details about the investment round, CEO and Co-Founder of FinMkt, Luan Cox, stated:
“We are honored and thrilled to be partnering with FINTOP Capital, with the continued support of our existing investors, on this investment round. FINTOP’s deep knowledge about what it takes to run a high-growth, hugely successful fintech company will contribute immensely to our rapid growth. With this investment, we will continue to grow and develop products that provide robust, full credit spectrum solutions in partnership with our bank and non-bank lending partners. We will continue to strive to provide comprehensive lending-as-a-service solutions, for both consumer and small business loans, to our clients while also providing high-quality application volume.”
Joe Maxwell, Managing Partner at FINTOP Capital, added:
“FinMkt’s unique enterprise technology solutions and its deep bench of highly successful fintech leaders solve a huge problem for organizations looking to provide full credit spectrum lending options to customers. By working with banks and other traditional lenders, we believe FinMkt will be the backbone of innovation in helping these financial institutions become increasingly digitally-enabled and leverage best-in-class technology.”