Lendio, an online lending marketplace for small business, raised $20.5 million of equity capital in a recently completed funding round.

Blumberg Capital, Napier Park's Financial Partners Group, North Hill Ventures and Pivot Investment Partners participated in the round, as did returning investors Tribeca Venture Partners, Runa Capital and Highway 12 Ventures, Lendio said in a news release Tuesday.

Dan Kittredge of Napier Park and Chris Gottschalk of Blumberg will join Lendio's board, the release said.

"Lendio's leadership team has proven its ability to drive innovation and deliver an incredible platform that helps both small-business owners and small-business lenders alike," Kittredge said in the release.