Toronto FinTech, Lendified, raises $15 million CAD Series A
Summary
Lendified, a Toronto-based FinTech, announced today that it has closed a $15 million CAD Series A funding round, in order to continue its growth within Canada. It also offers tools for managing cash flow, as well as advanced credit adjudication software to financial service providers across North America. RELATED: Why Lendified prioritizes talent retention over recruitment to scale Lendified’s CEO and co-founder, Troy Wright, also noted that he sees “tremendous opportunity” with the company’s SaaS platform business, “as financial institutions push to find best-in-class AI-enabled lending solutions.” The Toronto FinTech has previously raised $8 million in seed and follow-on funding, bringing its total funding to date $23 million. The company has also previously raised $80 million in senior debt funding for its lending business, to finance working capital loans underwritten by Lendified. In late 2015, Lendified joined the MaRS FinTech cluster, and months later acquired Vancouver-based Mentio Technologies, a Techstars alum, specializing in automated cash flow forecasting.