Fundera, which runs a website where small-business owners can shop for loans, has raised $11.5 million in new equity funding.
The New York company said in a press release Thursday that it plans to use the money to expand its team of engineers and loan specialists, to develop and refine the borrower experience and to build new products.
Small-business owners who use Fundera’s site complete a single loan application to apply to multiple lenders. The company, which competes against traditional small-business-loan brokers, has been marketing itself as a white-hat player in an online lending sector where borrowers often suffer at the hands of unscrupulous operators.
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Fundera’s $11.5 million funding round was led by Susquehanna Growth Equity, according to Fundera.
The company, which launched in February 2014, said that its platform has facilitated more than $60 million in small-business loans so far.