San Francisco based middle market-focused online commercial lending startup NepFin has raised a $10m Series A round led by Sands Capital Ventures.
NepFin, whose platform has digital solutions built from the team’s years of experience in online lending and traditional finance, says that its focus is on one of the most underserved sectors of the broader U.S. economy – businesses with between $10 million and $100 million in revenue. NepFin provides loans of up to $60 million. NepFin’s tools include an online dashboard for businesses and intermediaries to easily share, manage and track documentation, which creates a frictionless application experience for borrowers and their partners. They are also leveraging machine learning and data science to lower costs, allowing NepFin to target areas of the market less economical to traditional lenders.