Camino Financial, a Los Angeles, CA-based community-driven fintech company, merged with Fundation, a Reston, VA-based a tech-enabled SMB lender specializing in digital lending solutions.
LL Funds led the deal and will be the financial sponsor of the company during its next phase of growth. Shivraj Mundy and Putnam Coes, both Partners at LL Funds and current Camino directors, will continue as Directors of the combined company, with Shivraj Mundy serving as Chairman of the Board. Community Investment Management, a impact investment firm and funding partner to both Camino Financial and Fundation, played a meaningful role in facilitating the merger.
With the merge, the companies will create a SMB lender providing credit solutions to fund the growth of small businesses.
Camino Financial is a community-driven fintech company dedicated to providing credit and wealth building solutions. With a mission to promote financial inclusion, it is a government certified community development financial institution (“CDFI”), offering innovative financing solutions designed to support the success of overlooked entrepreneurs and minority-owned small businesses.
Fundation is a tech-enabled SMB lender specializing in digital lending solutions for small businesses. They collaborate with over 25 financial institutions, helping them access digital capabilities and provide cost-efficient, customer-focused services tailored to the needs of small businesses.
FinSMEs
29/09/0023