Lend-Grow

Lend-Grow

Closed: Oct. 2020

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.

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Investment Overview

Invested this round: $580,412

Deal Terms

Total Commitments

Platform
Microventures
Start Date
07/20/2020
Close Date
10/19/2020
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)    Open SEC Filing

Valuation Cap

$10,000,000

Discount

0%

Company & Team

Company

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
Visit Website

Team

Employees
4
Founder Name
Harris Schachter
Title
Head of Marketing
Founder Name
Fred Rubin
Title
Head of Analytics
Founder Name
Nishith Krishna
Title
CEO

Financials

 Revenue
$10,000
 Monthly Burn
$2,039
 Runway
4.9 months

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

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Company Funding & Growth

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)
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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.

Read Founder Interview

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Add to portfolio
Lend-Grow on MicroVentures
Platform: Microventures
Security Type: Convertible Note
Valuation: $10,000,000

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Warning: according to the close date for this deal, Lend-Grow may no longer be accepting investments.

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