Numerated, a Boston, MA-based provider of a modular commercial lending platform, received a strategic investment from Citi.
The amount of the deal was not disclosed.
The company intends to use the funds to expand operations and its development efforts.
Led by President David O’Malley, Numerated provides banks and credit unions of all sizes with digital business lending solutions. Its platform uses data to streamline originations and underwriting for business lending, from application to close. Through advanced machine learning algorithms, Numerated ensures that the data is accurately captured, normalized and consistently presented, regardless of its original format.
More than 500,000 businesses and 30,000 financial institution associates have leveraged the platform to process over $50 billion in lending.
FinSMEs
20/06/2024