WASHINGTON,

Jan. 24, 2018 /PRNewswire/ -- StreetShares, Inc., the leading small business funding and government contract financing company serving the military and veteran market, announced today it has completed its Series B funding round, raising

$23 million

in fresh equity capital. The Series B round was led by a

$20 million

investment from Rotunda Capital Partners, LLC, and included an additional

$3 million

from existing investors, including veteran-focused venture firm, Stony Lonesome Group. "StreetShares uses technology to serve the business funding and alternative investment needs of America's heroes and their communities," said

Mark L. Rockefeller

, CEO of StreetShares. "This injection of capital allows us to continue to provide red-carpet treatment to our very special members— the veteran entrepreneurs, small business owners, government contractors, and impact investors—that make up our country's next 'Greatest Generation.'"

StreetShares' technology captures the social loyalty that exists within the military and veteran community and harnesses that trust to lower risk in financial transactions. The StreetShares' model provides lower costs to borrowers and higher returns to investors.

StreetShares won the 2017 Professional Services "Innovator of the Year" Award in

Washington, D.C.

for its technology and three unique product lines:
  • Small Business Funding: Small business loans, business funding, and lines of credit that are mobile, digital, clear, transparent, and human. StreetShares never charges application fees or pre-payment penalties.
  • Government Contract Financing: StreetShares has reinvented receivables financing and invoice factoring for government and commercial contracts. StreetShares provides funding at every stage: from pre-award to "mobilization loans" to traditional receivables financing.
  • Alternative Investments: Do good; do well. StreetShares investors earn solid returns and support veterans, their families, and the main street business community with a first-of-its-kind impact investment product, Veteran Business Bonds.1
"We're thrilled to join StreetShares as a strategic business partner and investor," said

John Fruehwirth

, managing partner at Rotunda. "

Mark L. Rockefeller

,

Mickey Konson

, and the entire team at StreetShares have really been innovators in the small business lending and investing space. Our team at Rotunda is proud to join StreetShares and its mission to improve access to credit for veteran-owned small businesses while providing unique investment opportunities to their supporters." "Securing this funding is a huge step in StreetShares' growth and we're excited to have the support from a great firm like Rotunda Capital," said

Mickey Konson

, former Capital One senior executive and COO of StreetShares. "StreetShares is proud to fuel this special class of great American small businesses, and our partnership with Rotunda demonstrates that we are just getting started."

Brian Burke

of Cooley LLP acted as counsel for StreetShares.