Abstract from Axios Pro

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Ned, a startup providing infrastructure to small-business lenders, has raised $4.2

million in seed funding, CEO Dave Silverstein tells Axios exclusively.

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Why it matters: Private credit and direct lending have become popular options to fill a

financing gap for SMEs.

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How it works: Ned helps non-bank lenders — primarily non-profits lending to small

businesses — make financing decisions based on borrowers' revenue and cash flow data.

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Its white-label origination platform handles top-of-the-funnel data collection through

open banking APIs and provides lenders with cash flow underwriting and loan-sizing

capabilities…

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"We want to show business performance from the moment an applicant comes in

through a lender's front door to the moment they've finalized their repayment to the

lender," Silverstein says.

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‍🔗 Read the full article on Axios

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