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Announcing Our Investment in FinMkt.io

Friday, January 5, 2018 4:17

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We finalized an investment in FinMkt. FinMkt is based in New York City and is led by Luan Cox. She has been terrific to get to know. We were invited into the deal by Manchester Story. My partner Kenny was having a conversation with them and one thing led to another. We are happy they were the deal lead and we became a part of the syndicate.

Luan ran tech for companies like MarketWatch before she started FinMkt. She is highly experienced and met her co-founder Sri in her last job. As is typical in B2B Fin Tech, the entrepreneurs toiled for years and learned where the problems were before they started to try and solve them. FinMkt isn’t going to be built in a dorm room with a fridge full of Red Bull. You also have to know about credit markets and both Luan and Sri are well versed in them.

FinMkt fits perfectly with our thesis. This was a Series A round of financing. FinMkt operates in the online lending space. They are a marketplace technology company for financial institutions. A massive percentage of online loan applications are rejected. Instead of sending rejection notices, online lenders are integrating with FinMkt.

FinMkt provides best-in-class, customizable online marketplace technology for the global financial services industry. Its Lending Gateway is the premier B2B2C customer acquisition platform for online lenders in the U.S. The company’s technology helps drive innovation, accelerate processes, and expand revenue and cost-saving opportunities for its client base. The Gateway platform acts as a central hub where banks and lenders can plug in and work together through one-time integration. If you are an institution in the online lending space, you cannot afford to avoid being on FinMkt’s Gateway since they drive down the cost of customer acquisition. Your service and profitability get better by being on it even though your competitors are on it.

FinMkt has processed over $1 billion in consumer loan applications and has seen exponential revenue growth since its launch last year. They have helped top-tier organizations rapidly deploy marketplace solutions in a timely, cost-efficient manner while ensuring the highest quality technology and client support. From customer acquisition to product matching to tracking and reporting, their secure, patented technology solutions are the gold standard of the financial marketplace ecosystem.

This is our third fund investment and our first one outside of Chicago. We expect to make more investments in NYC since they have a great B2B Fin Tech ecosystem there. Our first one was Megalytics, led by Donna and Hank. Our second one was CFX, led by Jordan and Juan. WLV will invest anywhere in North America at Seed and Series A. We invest in B2B Fin Tech companies where institutions are the customers.

Source: http://pointsandfigures.com/2018/01/05/announcing-our-investment-in-finmkt-io/

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