New firm receives $2.2 million in funding from Real Ventures and other investors to support growth of the platform
TORONTO, Feb. 24, 2015 /CNW/ - FundThrough, a technology-driven online lending platform that changes the way businesses access financing, officially launched today. FundThrough is the first marketplace platform that offers lines of credit to growing businesses in Canada.
"For a long time Canadian business owners have relied on big banks for financing, and often have not had attractive alternatives if they were turned down or could not wait," said Steven Uster, Co-Founder and CEO of FundThrough. "FundThrough uses technology to provide an alternative to traditional lending sources, giving small- and medium-sized business owners access to a more convenient way of borrowing, enabling them to unlock the growth potential of their business."
FundThrough raised $2.2 million in financing from a group of investors led by Real Ventures, Canada's largest and most active seed venture fund. The funds will be used to scale the platform in order to service more growing businesses. Other investors include: Origin Merchant Partners, Five Elements Ventures, Barlow Lane Holdings, Jim Case and Peter Carrescia.
"We are thrilled to be investing in FundThrough," said Janet Bannister, General Partner at Real Ventures. "Online marketplace lenders like FundThrough are using technology to change the way businesses borrow money. They are disrupting the financial services industry by putting more power in the hands of business owners. We look forward to working closely with the FundThrough team as they grow their company in Canada and internationally."
FundThrough was co-founded by three entrepreneurs – Steven Uster, Graham McBride and Deepak Ramachandran – who understand the pressures faced by small and medium sized business owners and the frustrations that come with accessing financing. FundThrough was created to make accessing capital simpler, faster and more flexible for businesses.
FundThrough is a technology-driven online lending platform that provides small businesses with quick, convenient and transparent financing. FundThrough has developed a simple and secure platform that offers qualified Canadian businesses the ability to unlock their accounts receivable to invest in and accelerate the growth of their business. Find out more at www.fundthrough.com.
About Real Ventures
Real Ventures invests in ambitious entrepreneurs that are creating the Internet experiences of the future or embracing the power of the Internet to disrupt existing industries or business models. Investing pre-traction, its team and networks support entrepreneurs and propel their companies forward. The best entrepreneurs do their homework on prospective VCs and the best Canadian entrepreneurs want to be backed by Real Ventures. Visit realventures.com for more information.
For further information: Media inquiries: Dan Madge, Kaiser Lachance Communications, T: (647) 725-2520 x209, [email protected]