Finitive, which provides institutional investors with direct access to alternative lending investments, has collected $2m in a venture debt round.
The capital was supplied by Silicon Valley Bank and will help the FinTech to increase investments into its technology.
Institutional investors can use the Finitive platform to access a range of non-banking lending sectors including specialty finance, online lending, marketplace lending, and private credit funds. The New York-headquartered company also helps its originator partners get easy access to capital through a global network of alternative lending investors.
Silicon Valley Bank vice president Annie DeStefano said, “Silicon Valley Bank is committed to supporting innovative businesses that are disrupting the status quo.
“We look forward to continuing our relationship with Finitive as the platform scales and becomes an essential network for facilitating alternative lending transactions.”
In addition to the close of the round, the company has revealed former Revitas CEO and SAP America senior vice president Brian Madocks has joined the company’s board of directors.
Silicon Valley Bank has handed out several venture debt loans this year. Document management company ClauseMatch was one of the other companies to receive a loan from the bank, securing $2.5m to support its presence in Asia.
The bank has also given loans to currency and risk management solution builder Kantox and digital identity service Dashlane.
Copyright © 2019 FinTech Global
