Raised a $50 million credit debt facility from Victory Park Capital in April 2014. Was incubated at YCombinator in Winter 2012 batch. LendUp uses big data to do instant risk analysis and evaluate credit worthiness. Borrowers start with up to $250, but can eventually borrow up to $1,000 for a year. Consumers who have poor or no credit can apply for and receive small-dollar, short-term loans. LendUp is a direct lender and has created a product that allows small-dollar loans as an opportunity for consumers to build credit and move up the financial ladder. Riese and Others, Visa Europe, Western Technology Investment and 10 Other Investors It is headquartered in New York City with an office in Tel Aviv. Behalf is also beneficial to the vendors as they no longer have to negotiate terms with their many customers. Behalf now works with select vendors to enable you to get up Net 15, 30 or 45 day terms, interest free. The portal charges interest rates of 1-3% and offers a maximum credit line of $50,000 upto 180 days. The borrower then begins repayments on the amount of credit used. Once the purchase has been made by the portal, the goods are received directly by the borrower. This principal of operations mitigates any mismanagement of funds by the borrower. The platform does not disburse any credit to the borrower, it instead handles the purchase requirements of the borrowers by dealing with their vendors directly. Santander InnoVentures, FirstMark, Sands Capital Ventures and 10 Other Investorsīehalf is an alternate lending platform that offers a line of credit for purchases to businesses.
The platform will also provide free credit monitoring, alerts, and financial education to its users. The platform is founded by ex-Lending Club founders Renaud Laplanche and Soul Htite. All loans through the platform are made by Web Bank and funded by Jefferies and a few other financial institutions. The platform charges a 1-5% origination fee, which is deducted from loan amount at disbursement. Users need to first fill out a small form which determines their interest rate (without affecting credit score) and provides them with loan options to choose from. Upgrade is a platform for unsecured personal loans ranging from $2K to $50K for periods ranging from 36 to 60 months, offered at interest rates varying from 5.66-35.97% APR. In this edition, we have the ‘Soonicorn Club of FinTech - US 2020’– an exclusive list of the most promising FinTech - US startups that have also reached significant valuation milestones over the previous few years. We, at Tracxn, keep a track of the latest happenings in the world of startups and their associated ecosystems - including venture capital funds, private equity funds and investment banks amongst others. With over 14.2K+ FinTech startups, including 130+ public ones, United States is the nervecentre of the North American startup ecosystem in the new world order of the millenium. Majority of United States's startups are located in San Francisco, News York and Los Angeles. United States has a thriving startup ecosystem supported by key factors like state of the art technology, its location, access to sea routes with modernised ports and availability top ranked educational institutions. European Union is the largest trading partner of United States. United States's economy is dominated by its service sector, comprising 80.2% of the GDP and employing 80% of the labour force. The economy of the United States is the largest in the world, with a nominal GDP of USD 21.4 trillion.