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Fundera

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Fundera is an online marketplace for small business loans founded in 2014.[1]

History[edit]

Fundera was co-founded by Rohan Deshpande, Andres Moran, and Jared Hecht, co-founder of GroupMe. At the time of its launch, Fundera had received a total of $3.4 million in funding from Khosla Ventures, First Round Capital, Lerer Ventures, SV Angel, and various angel investors.[2]

In September 2015, Fundera received Series B funding, raising a total of $11.5 million from nine investors, including lead investor Susquehanna Growth Equity.[3]

It was reported that Fundera had raised $25 million in total as of August 2019. [4]

Products and Services[edit]

Fundera’s marketplace offers a range of products, including installment loans, short-term loans, lines of credit, equipment loans, and SBA loans. [5]

Fundera also operates an online publication known as the Fundera Ledger. [6]

Paycheck Protection Program[edit]

In the wake of the coronavirus pandemic, Hecht advocated for a stimulus program for small businesses.[7] After the passage of the CARES Act, Fundera partnered with lenders such as Cross River Bank[8] and First Home Bank[9] to package and process PPP loan applications for small businesses.[10]


References[edit]

  1. Shontell, Alyson. "26-Year-Old Jared Hecht Sold His First Startup For ~ $80 Million In 370 Days, And He Has Raised $3.4 Million For A New Venture". Business Insider.
  2. Crook, Jordan. "GroupMe Founder Gets $3.4M to Make Small Business Loans More Accessible With Fundera". TechCrunch.
  3. Crook, Jordan. "Fundera Picks Up $11.5 Million In Series B Funding". TechCrunch.
  4. Fuscaldo, Donna. "Fundera In Growth Mode Without The Need For VC Funding". Forbes.
  5. Seppala, Erica. "Fundera Review". Merchant Maverick.
  6. Graham, Rebecca. "Fundera Review". Best Company.
  7. Sahafi, Jeanne. "Small business cash crunch grows 'more dire by the day'". CNN.
  8. Sullivan, Paul. "What Are Fintechs and How Can They Help Small Business?". New York Times.
  9. Morse, Brit. "For the Smallest Firms Seeking PPP Money, Fintechs Are the Way to Go". Inc.
  10. Lin, Connie. "As banks choke, the Paycheck Protection Program expands lending to fintech firms". Fast Company.


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