Nav, a business financial management app that helps small firms get better financing by giving them free access to credit reports, has raised $44.8 million in a Series C funding round led by Goldman Sachs and joined by Experian Ventures.
Point72 Ventures, Aries, and CreditEase Fintech Investment Fund also joined the round, the proceeds of which Nav plans to use to develop its technology platform, expand enterprise partnerships and sign up more small business owners.
More than one million small biz owners already have access to their credit data and insights through Nav, making it easier for them to access financing. The company's platform also includes a marketplace where users can apply for loans and credit cards.
The startup provides free small business credit data from Equifax, Experian and Dun & Bradstreet. Last year it inked a multi-year partnership with First Data's Clover, giving users of the POS system access to their free scores.
Levi King, CEO, Nav, says: "Because we can see the pattern of everything from who gets approved for financing to who has strong cash flow, we can solve for the myriad financial considerations for small businesses. This also means we're doing legwork for lenders by matching them to the most appropriate candidates."
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