Parlay, an Alexandria, VA-based provider of a small business loan readiness platform, raised $1.3M in Pre-Seed funding.
The round was led by Fenway Summer. Other investors included Hivers and Strivers Capital, Service Provider Capital, Capacity Capital, and Alumni Ventures, together with a follow-on investment from Techstars.
Commenting on the news, CEO Alex Mcleod said: “This pre-seed funding enables us to continue fulfilling our mission: partnering with community banks and credit unions to extend more loans to the small businesses that form the backbone of our economy.”
Parlay Finance is an embedded fintech software that helps community banks and credit unions get more small businesses approved for loans. The company helps small businesses maximize their eligibility for loan products while increasing loan quality, throughput, and efficiency for lenders.
FinSMEs
14/02/2024