Overview

Raised to Date: Raised: $580,412

Deal Terms

Investment Momentum

Company Profile

Deal Summary

Financials

Total Commitments ($USD)

Platform

Microventures

Start Date

07/19/2020

Close Date

10/18/2020

Min. Goal

$50,000

Max. Goal

$1,070,000

Min. Investment

$100

Security Type

Convertible Note

Series

Seed

SEC Filing Type

RegCF / RegD 506(c)    

Valuation Cap

$10,000,000

Discount

0%

Rolling Commitments ($USD)

Status

Funded

Reporting Date

10/31/2020

Days Remaining

Funded

% of Min. Goal

Funded

% of Max. Goal

Funded

Likelihood of Max

Funded

Avg. Daily Raise

$6,378

# of Investors

1,284

Momentum

Funded

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Lend-Grow

Year Founded

2019

Industry

Financial & Insurance Products & Services

Tech Sector

Fintech

Distribution Model

B2C

Margin

Low

Capital Intensity

Low

Location

Reston, Virginia

Business Type

Growth

Company Website

Lend-Grow, with a valuation cap of $10 million, is raising funds on MicroVentures. It is an online lending marketplace that connects lenders and borrowers across 28 states in the US. The borrowers get access to small regional lenders with competitive rates, and the lenders receive strong portfolio growth with qualified leads. Lend-Grow was founded by Nish Krishna, Fred Rubin, and Harris Schachter in 2019. The current crowdfunding round has a minimum raise of $50,000 and a maximum raise of $1,070,000. The funds will be used for business development, internal development, licenses and marketing, and operations. Lend-Grow matched borrowers with loans totaling $15 million in May 2020 and plans to grow to all the 50 states of the US by 2021.

Summary Profit and Loss Statement

	Most Recent Year	Prior Year
Revenue	$10,000	$0
COGS	$-10,000	$0
Tax	$0	$0
Net Income	$-24,462	$0

Summary Balance Sheet

	Most Recent Year	Prior Year
Cash	$9,998	$0
Accounts Receivable	$1,000	$0
Total Assets	$10,998	$0
Short-Term Debt	$25,266	$0
Long-Term Debt	$0	$0
Total Liabilities	$25,266	$0

Financials as of: 07/19/2020

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Founder Profile: Lend-Grow Co-founders Nish Krishna & Harris Schachter

Financial services are still confusing for the average consumer — despite the availability of information on the internet. This confusion arises in part from the fact that smaller banks and credit unions may have a limited digital presence, if they have one at all. At the same time, these smaller financial institutions often offer better terms on loans than the larger, name brand banks. But if consumers can’t find them, this resource simply goes to waste.

Lend-Grow has created a platform that helps connect borrowers with smaller, local lenders. The company hopes to provide borrowers with more competitive loans while also leveling the playing field for smaller banks and credit unions. We interviewed co-founders Nish Krishna and Harris Schachter to learn more about their vision for the online lending marketplace.

Note: This interview was conducted over phone and email. It has been lightly edited for clarity and length.

Read Founder Interview