Ned, as a cash flow lending platform provider in New York City, has recently secured $4.2 million in seed funding equity.
Key Investors
mpression Ventures was the leading investor on the round, with support from Capital Eleven.
Use of Funds
The management of the company intends to use the proceeds of the funds to escalate its operation to enhance the scope of its businesses, thus gaining a more robust market stake in cash flow lending sector.
Ned's Platform Capabilities
Ned has been established by Dave Silverstein who serves as the chief executive officer and Mayur Motgi who also participated in the founding of the entity as the chief product officer The firm’s lending structure specializes in cash flow lending and it offers improved visibility and more automation in the lending process throughout the several stages. It provides an insight into how a given business entity cash flows and thus, enables the lenders to extend credit and develop capital solutions that meet different needs.
Lender Benefits
Ned’s platform supports lenders from the initial prospecting stage through servicing loans, providing:
- Cash flow transparency: It incorporates a clean view of business performance.
- Tailored capital solutions: Enables setting up of different loan sizes and tenors as per funds availability scoring.
- Default risk management: Allows lenders to mitigate against credit risk in the course of loan repayments.
Industry Adoption
Lenders across the country already use Ned’s marketplace for various capital solutions with various fix and variable payment terms such as revenue sharing. Designed as a comprehensive solution solution both for borrowers and lenders, Ned provides tools to provide demand-driven financing while automating the entire lending process.
**To get all USA Startup news Please Visit – https://growwseed.com/category/usa-startup-funding-news/
