California based small business financing startup Nav has raised $13m in Series B funding led by Goldman Sachs. Nav helps small business owners access the financing they need to grow and effectively manage their business. They do this giving business owners tools to take control over their credit profile – offering both personal and business credit data and insights for free.
"Our model is solving the access to capital problem in a modern way. We're using data to help business owners understand their financial health and dramatically simplify the process of borrowing money and getting credit," said Levi King, co-founder and CEO of Nav. Credit rating service firm Experian led Nav's previously announced US$25 million series B round, with participation from Crosslink Capital, Tencent Holdings Ltd. and other existing investors. Nav's Series A funding of US$6.5 million was led by Kleiner Perkins Caufield & Byers. "We are excited to be a part of the journey with Nav, helping small business owners deal with their biggest challenge – accessing the right capital," said Anju Patwardhan, senior partner of CreditEase Fintech Investment Fund.