How Lendio Reached $250 Million in Funded Transactions On Its Platform. Hint: PartnershipsAugust 5, 2016 | By: Srividya Kalyanaraman
Utah-based marketplace Lendio said that it has help facilitate over $250 million in funding transactions on its platform to over 10,000 small businesses. $55 million was originated in Q2 alone.
Lendio’s partnerships have been paying off. Deals with GoDaddy and Staples originated $14 million and $4 million, respectively in Q2 of this year.
Last month (July 21), the company joined hands with digital marketing firm Townsquare Media in cross-promoting products and services. The company has also been pushing the SMART Box initiative spearheaded by the Innovative Lending Platform Association.
“As leaders and stewards in this industry, we feel it is imperative to rally around a common ground of best practices so the responsible flow of capital to Main Street continues and expands,” Blake added. “Providing business owners with the most complete information is one way to make sure that happens.”Last modified: August 5, 2016
Srividya's work has appeared in publications like Money magazine, Advertising Age, FirstPost and The Economic Times. She has also dabbled in business intelligence solutions, and holds a Masters degree in Business and Economic Reporting from NYU.