Lending analytics and technology company Braviant Holdings has netted $5m in funding from Loom Capital.
Alongside the investment, the company has formed an exclusive partnership with a Trend Capital subsidiary, a digital marketing platform affiliated with Loom. One of Braviant’s existing investors has elected to convert a $2m note to equity.
Chicago-based Braviant uses analytics and technology to build quicker and smarter credit solutions. The company’s Balance Credit solution offers personal instalment loans and credit services to consumers regardless of their credit score.
Through the new partnership, Braviant hopes to diversify customer acquisition channels and increase its loan origination.
Trend Capital CEO Ron Symon said, “Braviant is especially well-positioned to succeed in the constantly evolving online lending ecosystem. Braviant’s proven management team has created a winning business model that addresses the growing need for alternative credit options.”
Earlier in the week, digital lender to cryptocurrency holders BlockFi closed a $1.55m investment to help bridge the gap between traditional debt capital and cryptos.
The global marketplace lending sector has seen a rise in funding with $9.9bn raised last year, across 166 transactions. This is compared to 2016, when $7.5bn was deployed across 216 deals.