Zazma has raised $10 million in funding, led by Sequoia Capital and Spark Capital. Sequoia is also known for leading Zazma?s seed round in 2011. Zazma is known for helping fund small businesses. Zazma offers more flexible financing options than traditional institutions and suppliers. Zazma users ask for a specific amount of money for specific purchases.
Zazma uses analytics to determine if someone is a loan risk and claims to make instant approvals. In many cases, people use the service to pay suppliers. You can also set your own repayment deadline.
“The financial markets are inefficient, and the traditional modes of financing are needlessly arduous and time consuming,” stated Zazma co-founder and chief executive officer Benjy Feinberg. “Internet and big data analytics are changing the financial world and Zazma is bringing this change to purchase financing by adding value to both small businesses and their suppliers through online, instantaneous approvals, and 100-percent payment guarantees at fair prices. We’re thrilled to be joined by two exceptional VCs like Sequoia and Spark for this new round of funding that will enable us to expand our team and services and provide more small businesses with the capital that they need in order to thrive.”