Ned Secures $4.2 Million To Revolutionize Cash Flow Lending Tech

End-To-End Cash Flow Lending Platform Helps Lenders Shine a Light On Business Performance to Qualify Borrowers and Deploy Pent Up Billions

NEW YORK, NY / ACCESSWIRE / October 22, 2024 / Ned, which provides customers a cash flow lending platform, is excited to announce the closing of its $4.2 million equity seed financing led by Impression Ventures, with participation from Capital Eleven. The financing marks an inflection point in financial services sectors as lenders seek to scale loan books and qualify millions of businesses primarily on revenue.

Ned's platform illuminates business performance throughout the lending lifecycle, offering transparency and automation where lenders typically struggle with limited visibility into cash flow. For businesses with strong fundamentals but lacking traditional credit, collateral, or facing difficulties in proving creditworthiness, Ned provides a solution that enables lenders to confidently extend financing.

From top-of-funnel prospects through servicing, Ned's white label rail integrates cash flow transparency so lenders can offer tailor-made capital products, underwrite, and size loans with customizable cash flow scoring, and then manage against default during repayment.

"It's a critical moment for our economy, and lenders need advanced technology to grow and serve more businesses. Ned is here to help lenders light it up," said Dave Silverstein, Ned Founder and CEO. "We're committed to helping lenders gain clear insights into their borrowers' financial health, so they can deliver stronger, more tailored capital solutions," Silverstein added.

"The funding will fast-track Ned's tech development. We're excited to double down on the platform's flexible cash flow underwriting IP and servicing systems so lenders can power unique capital products with ease," said Mayur Motgi, Ned Co-Founder and Chief Product Officer.

Christian Lassonde, Managing Partner at Impression Ventures, said, "We're thrilled to support Ned as it empowers lenders to make smarter, more informed decisions and scale their loan books effectively. Throughout our fintech portfolio, we've seen massive demand from businesses looking to access lending products but because of lack of sophistication they simply don't have access. Ned gives lenders the tools to provide credit to this massively underserved market."

Already trusted by lenders nationwide, Ned is available as an end-to-end platform that can support a diverse suite of fixed and revenue-based repayment capital products.

The financing highlights a growing need for innovative infrastructure in the lending industry. Ned is committed to leading the charge in this vital area, ensuring that both lenders and borrowers benefit from transparent and efficient lending processes. Ned is backed by top investors including Forum Ventures, Everywhere Ventures, Hustle Fund, and Brooklyn Bridge Ventures.

For more information about Ned and its offerings, visit nedhelps.com.

ABOUT NED

Ned is an end-to-end lending technology SaaS solution that brings cash flow transparency to small business lending, enabling lenders to qualify more borrowers and deploy more capital effectively. To learn more, visit our website: https://www.nedhelps.com/

ABOUT IMPRESSION VENTURES

Impression Ventures is a fintech-focused venture capital firm dedicated to supporting innovative financial technology startups across North America. Impression provides both capital and strategic guidance to entrepreneurs shaping the future of financial services. Leveraging a deep understanding of the fintech landscape, the firm partners with companies addressing key challenges in areas like payments, lending, insurance, and digital banking, driving transformative change in how people interact with financial products. To learn more, visit our website: https://www.impression.ventures/.

Media Contact:

Nina Pfister
MAG PR
nina@mooringadvisorygroup.com

SOURCE: Ned