Note from the Publisher: We’re pleased to see Atlanta-based Fintech Ventures Fund (we’re also in ATL) featured in the following, and they have provided Series A financing for Chicago fintech LQD Business Finance, which offers “technology-enabled” business loans. The sweet spot which LDQ serves is the $250K-$2M loan size, which makes them unique amongst online business lenders, which typically don’t offer loans of those sizes because of the complexity of underwriting.
CHICAGO, July 21, 2016 /PRNewswire/ — LQD Business Finance – a Chicago-based, technology-enabled business lender – announced that it has completed a Series A round of financing with Atlanta-based investment firm, Fintech Ventures Fund. The new round of financing will help LQD accelerate growth and continue its national expansion.
“We are pleased to be partnering with the team at Fintech Ventures Fund. We feel that Fintech Ventures’ focus on technology-enabled lending gives the Fund a unique insight into the space and makes them a valuable addition,” says LQD C.E.O. George Souri.
“We have seen almost every business lending company out there, and believe strongly that LQD – because of the larger loan market it’s targeting and the strength of its underwriting and risk management – is uniquely positioned to win in its targeted market. LQD is not just another marketplace or short-term lender, but a real paradigm shifting model in terms of business lending. We believe in LQD’s experienced and talented management team, and we are happy to partner with them to grow LQD into a national leader,” says Serguei Kouzmine, General Partner of Fintech Ventures Fund.