FinMkt

FinMkt, Inc. is a New York City-based financial technology company originally founded in 2014 as Crowdnetic and rebranding in 2016 to its current iteration, FinMkt.[1][2] FinMkt then pivoted the technology to build a premier SaaS, multi-lender, omnichannel, customizable point of sale financing platform that launched in the summer of 2020.[3]

FinMkt
TypePrivately held company
IndustryFinancial Technology
Founded2014
HeadquartersNew York City, New York, United States
Key people
Luan Cox (Co-founder, CEO)

Srikanth Goteti (Co-founder, CTO)

Nathan Barber (CFO)
Productshttps://finfi.co/ https://www.lendvious.com/
Websitewww.finmkt.io

Funding

In November 2017, FinMkt announced it closed a $5.4 million equity round led by venture capital firm ManchesterStory Group with help from Seraph Group, West Loop Ventures, Sun Hung Kai Financial, Perot Jain, Vectr Ventures, and existing investors bringing the total raised funding to $7.3M. The funding round was to grow their "Marketplace Lending Gateway" also known as Lendvious, which has processed billions in consumer loan applications.[4] In August 2019, the company announced that it closed its $5 million Series B preferred equity round led by FINTOP Capital with participation from existing investors.[5]

Partnerships

Throughout its early years working in the equity crowdfunding industry, FinMkt had notable media partnerships with companies like CNBC,[6] and Thomson Reuters.[7] More recent partnerships include a collaboration with Persistent Systems to provide community banks and credit unions with the technology to compete in point of sale financing.[8] FinMkt is also working with the National Association of Professionally Accredited Contractors (NAPAC) to provide NAPAC's members with a multi-lender point of sale financing platform.[9] In addition, Porch has licensed FinMkt's multi-lender point of sale loan platform for their contractor network.[10]

Accolades

In 2017, FinMkt was included in CreditDonkey's Best in Finance Technology list.[11] And in November 2020, FinMkt was chosen out of 150 applications to compete in Money20/20's MoneyPitch, sponsored by Mastercard, and won the final round.[12] In 2019, FinMkt's CEO and founder, Luan Cox, was named to NYC Fintech Women's Inspiring Fintech Females 2019 list.[13] The following year, she was one of The Top 25 Women Leaders in Financial Technology of 2020 in the Financial Technology Report.[14] And in 2021, she was named one of the Top 100 Women in Fintech by Fintech Magazine.[15]

References
  1. "Brief: Crowdnetic Rebrands to FinMkt". Crowdfund Insider. 2016-11-30. Retrieved 2020-09-22.
  2. "Notice of Exempt Offering of Securities".{{cite web}}: CS1 maint: url-status (link)
  3. "Top Home Services Platform Partners With Leading Point-of-Sale FinTech Company". finance.yahoo.com. Retrieved 2020-09-23.
  4. Marinova, Polina (January 8, 2018). "Term Sheet -- Monday, January 8". Fortune. Retrieved 15 May 2018.
  5. "FinMkt closes $5 million Series B". Finextra Research. 2019-08-08. Retrieved 2020-12-10.
  6. Alba, Davey (February 4, 2015). "CNBC Unveils Index for Tracking Equity Crowdfunding Revolution". Wired. Retrieved 15 September 2016.
  7. "Thomson Reuters Partners with Crowdnetic to Help Increase Transparency in Crowdfunding Market". finance.yahoo.com. Retrieved 2021-03-26.
  8. "Persistent and FinMkt Partner to Bring Point of Sale Digital Lending Solutions to Banks and Credit Unions". finance.yahoo.com. Retrieved 2021-03-26.
  9. Smith, Erin (2020-12-01). "Top Accredited Contractor Network, NAPAC, Picks FinMkt's Financing Solutions for its Members". EIN Presswire. Retrieved 2021-03-26.
  10. "Top Home Services Platform Partners With Leading Point-of-Sale FinTech Company". finance.yahoo.com. Retrieved 2021-03-26.
  11. "Best in Finance Technology". CreditDonkey. 2017-11-06. Retrieved 2021-03-26.
  12. Smith, Erin (2020-11-10). "Finmkt Wins the Final Round of MoneyPitch, Hosted by Money20/20". EIN Presswire. Retrieved 2021-03-26.
  13. "Financial Data Pioneer Named to 2019 Inspiring FinTech Females List - Press Release - Digital Journal". www.digitaljournal.com. Retrieved 2021-03-26.
  14. jirehl. "The Top 25 Women Leaders in Financial Technology of 2020 | The Financial Technology Report". Retrieved 2021-03-26.
  15. "Top 100 Women in FinTech | Magazine | Fintech Magazine". www.fintechmagazine.com. Retrieved 2021-03-26.
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