Dealstruck Secures $10 Million Investment From Community Investment Management, Appoints Robert Riedl New Head of Capital MarketsJuly 27, 2015 | By: Press Release
CARLSBAD, CA–(Marketwired – Jul 23, 2015) – Dealstruck, the online lender that provides lending solutions for small businesses at every stage of their lifecycle, today announced that it received another $10 million capital investment from Community Investment Management LLC (“CIM”), an investment firm focused on marketplace lending. This investment allows Dealstruck to grow its capital available for lending to small businesses to more than $100 million.
“We’re pleased to be able to add new financing to the marketplace to help support small businesses,” said Ethan Senturia, CEO of Dealstruck. “The growth in alternative lending has breathed new life into so many small businesses, and growing the capital pool means more access and more opportunity. We’re transforming the financial landscape for small businesses.”
“We are excited to partner with Dealstruck as it grows its financing of small businesses with a suite of lending products,” said Jacob Haar, Managing Partner of CIM. “Small businesses deserve the type of transparent and compelling financing options which Dealstruck provides.”
To help expand Dealstruck’s funding capabilities, Dealstruck has appointed Robert Riedl as Head of Capital Markets. With leadership and expertise gained from 25+ years in specialty lending, Riedl will be responsible for pioneering, directing and executing strategies that enable Dealstruck to provide small businesses across the U.S. with the most appropriate and affordable financing solutions.
Prior to joining Dealstruck, Robert Riedl was the COO of a publicly traded specialty finance company, Consumer Portfolio Services, Inc. (“CPS”). Robert joined CPS in 2003 and held a variety of senior positions, including Chief Investment Officer and Chief Financial Officer. Robert started his career as an investment banker for ContiFinancial Services, Jefferies & Company, and PaineWebber. He has also served as a principal at Northwest Capital Appreciation, a middle market private equity firm.
The Dealstruck lending marketplace connects profitable, small- and medium-sized businesses (SMBs) with innovative credit solutions. Unlike the one-size-fits-all approach offered to them by banks and the high-cost, short-term credit offered to them by alternative lenders, Dealstruck provides growing SMBs with a suite of products that give them a credible and transparent path to bankable. Dealstruck is the first online lending platform to offer multiple products to SMBs, and the first to allow investors the freedom to choose specific investments. For more information, please visit https://www.dealstruck.com/.
Community Investment Management (“CIM”) is an impact investment firm focused on marketplace lending. CIM provides responsible and transparent financing to small businesses in the United States in partnership with a select group of technology-driven lenders. CIM combines experience, innovation, and values to align the interests of small business borrowers and investors. More information is available at http://www.cim-llc.com.