Foro, a Charlotte, NC-based commercial lending startup, raised $8M in Series A funding.
The round was led by TTV Capital, with participation from Fin Capital, Correlation Ventures, and AME Cloud Ventures.
The company intends to use the funds to accelerate the national launch of its digital commercial lending platform.
Led by CEO Dave Godsman, Foro is a fintech startup that democratizes access to capital by streamlining the commercial lending process, giving businesses the choice they need to choose the right financial partner to accelerate growth. The digital platform ensures that borrowers are judged solely on the merits of their business and nothing more, while also providing guidance to those who may not have the prior knowledge and experience needed to navigate the commercial lending process effectively.
The platform fosters connections between businesses and lenders based solely on fit – all while cutting the initial discovery period to 7:
- First, business owners looking to secure capital fill out a guided business profile that focuses on the specific questions lenders initially want answered.
- That business profile is then anonymized (removing the possibility of any biased outcomes) and routed for potential match to various lenders including banks, credit unions, and alternative lenders.
- In as little as 48 hours, business owners are presented with a list of lenders that have expressed interest in connecting, enabling the business to choose between multiple financial partners.
FinSMEs
27/01/2023