Redwood City, CA based financing platform for SMBs raised $102.5m in Series F funding led by ION Crossover Partners. Other new investors include MUFG, O.G. Tech, Vintage Investment Partners, Maor Investments, and return backers M12, Lightspeed Venture Partners, Menlo Ventures, 83North, SVB, Nationwide, and Citi Ventures.
“My real competitors are the 4,600 banks in the US,” Lifshitz said. “It’s a very long tail in the US. But if you dive into that further, historically SMBs haven’t been serviced well by them.”