Total amount raised
$82.1 Millions
Latest funding date
08/01/2023
Location
Credibly has successfully raised funds through various rounds, with its latest being a Private Equity round closed on August 11, 2023. The fintech platform offers a range of business financing options, including working capital loans, merchant cash advances, and business lines of credit.
Keep reading to explore the intricacies of Credibly's fundraising journey and the investors backing this innovative platform.
What Is Credibly?
Credibly, founded in 2010 by Edan King and Ryan Rosett, is a fintech platform based in Southfield, Michigan. The company leverages data science and technology to offer a variety of financial products tailored for small and medium-sized businesses.
These products include working capital loans, merchant cash advances, business lines of credit, equipment financing, and invoice factoring. Credibly aims to be a trusted partner, providing flexible financing solutions that accommodate various stages of business development.
With a workforce of 101-250 employees, Credibly continues to support businesses by making loans affordable, simple, and transparent.
How Much Funding Has Credibly Raised?
- Private Equity Round
- Amount Raised: $5.1M
- Date: August 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their financial product offerings and enhance technological capabilities.
- Debt Financing
- Amount Raised: $7M
- Date: March 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and operational needs.
- Debt Financing
- Amount Raised: $70M
- Date: February 2016
- Lead Investors: AloStar
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale their lending operations and increase market reach.
Total Amount Raised: $82.1M. Current Valuation: Not publicly disclosed.
Key Investors
The information requested about the major investors in Credibly and their details, investment focus areas, and notable investments was not found in the provided sources. The sources either did not contain relevant information or were example domains without any business-related content.
Here is a summary of the findings:
- AloStar
- Details: AloStar is listed as an investor in Credibly.
- Investment Focus Areas: Not publicly disclosed.
- Notable Investments: Not publicly disclosed.
Unfortunately, no additional information about other major investors, their focus areas, or notable investments was available in the provided sources.
What's Next for Credibly?
The information requested about the future of Credibly, including opportunities, future fundraising, and challenges, was not found in the provided sources. The sources either did not contain relevant information or were example domains without any business-related content.
Here is a summary of the findings:
- Opportunities Available: Not explicitly mentioned in the sources.
- Size of the Opportunities: Not explicitly mentioned in the sources.
- Future Fundraising Opportunities: Implied through announcements of financial results and investor meetings.
- Industry Trends: Increased focus on financial performance, growth in technology and data management sectors, expansion in defense and aerospace contracts, and emphasis on sustainability and innovation.
- Growth Opportunities: Evident in sectors such as technology and data analytics, defense and aerospace, and financial services.
- Challenges: Intense competition, regulatory and compliance issues, and economic fluctuations.
- Predictions for Future Fundraising or Acquisitions: Likely ongoing efforts to attract investors and potential acquisitions to enhance capabilities and market position.
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