Lend-Grow
About this raise
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.
Investment Overview
Invested $580,412 :
Deal Terms
Company & Team
Company
- Year Founded
- 2019
- Industry
- Financial & Insurance Products & Services
- Tech Sector
- Distribution Model
- B2C
- Margin
- Low
- Capital Intensity
- Low
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Funding history
Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |
---|---|---|---|---|---|---|
10/19/2020 | Microventures | $10,000,000 | $580,412 | Convertible Note | Funded | RegCF / RegD 506(c) |
Founder Profile
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.