Marketplace lender Become raises $12.5 million

Marketplace lender Become raises $12.5 million

Israel fintech Become has raised $12.5 million in Series A funding to help propel its mission to become the 'Expedia for business loans'.

Become’s marketplace allows multiple lenders to extend tailored funding offers to businesses.

"Think of it as the Expedia for business loans," states the firm. "But instead of comparing hotel prices, cleanliness and facilities, you’re comparing business funding products, rates, terms and lenders."

Businesses using the platform are provided with a 'LendingScore' to help them understand how lenders view their application and highlights the areas they need to improve to qualify and/or get better funding options and terms.

"The long and tedious bank solutions just aren’t cutting it anymore, and with so many lenders in the lending space, businesses don’t know where to turn first," the firm opines. "No one wants to sift through and apply to hundreds of lenders to find their best option."

The firm says it has 200,000 businesses registered on its platform, accessing a panel of more than 50 lenders, including PayPal, OnDeck and Kabbage. It has facilitated more than $165 million in business loans to date.

The funding round, which incorporates a $2.5 million debt element from Viola Credit, was led by Benson Oak and Magenta Venture Partners.

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