- Financial technology platform company Finitive announced recently that it raised $2 million in venture debt from Silicon Valley Bank
Finitive — a financial technology platform company that provides institutional investors with direct access to alternative lending investments — announced that it raised $2 million in venture debt with Silicon Valley Bank (SVB). With this round of funding, Finitive is planning to use the proceeds to further invest in its technology platform, which brings greater efficiency to investing and raising capital in the alternative lending sector.
With Finitive, institutional investors access a multi-trillion dollar market that encompasses a broad spectrum of non-bank lending sectors such as specialty finance, online lending, marketplace lending, and private credit funds. And SVB is an active participant on Finitive’s platform and joins other industry investors in Finitive’s network like UBS O’Connor, Fortress, CarVal, and Ninepoint Partners.
“We are excited to partner with Silicon Valley Bank. This strategic capital source contributes to our growth trajectory as we continue to simplify a complex industry,” said Finitive founder and CEO Jon Barlow.
Finitive also revealed that it appointed Brian Madocks to its board of advisors. Madocks is the CEO and a member of the board of directors of eOriginal, which is a leading platform for creating, managing, and monetizing digital loans. Madocks has over 25 years of industry experience and also served as CEO of Revitas, Vitalyst, and SunGard Higher Education.
Since launching in August 2017, Finitive has facilitated more than $1.5 billion in capital commitments from top-tier institutional investors. And all regulated activities are conducted through North Capital Private Securities, a registered broker-dealer and member FINRA/SIPC.
“Silicon Valley Bank is committed to supporting innovative businesses that are disrupting the status quo,” added Annie DeStefano, Vice President at Silicon Valley Bank. “We look forward to continuing our relationship with Finitive as the platform scales and becomes an essential network for facilitating alternative lending transactions.”