San Diego-basedSan Diego-based Blooma has closed a new funding round led by Floodgate, the early stage venture capital investor.
Blooma is a FinTech startup offering an artificial intelligence-powered solution to automate the process of assessing risk and costs for commercial loans.
It just completed a seed round worth $2.75m. While being led by Floodgate, other investors also participated. The participators included Hippo investor Abstract Ventures as well as VC firms Crescent Ridge Partners and Serra Ventures.
Blooma has stated it attempts to use the money to scale its engineering, operations, products, marketing and sales infrastructure. It will use this to attract more customers in lending organizations like both commercial and private banks.
Lead investor Floodgate closed its sixth venture fund in 2017. It was worth $131m. It has previously invested in Airbanq, Long-Term Stock Exchange.
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