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Lendtable
Cash advances to benefit from 401(k) matches
- 21-100 employees
- Fintech
- B2C
- Personal finance
- Lending
- Financial Services
- Social Impact
- SoMa, San Francisco, CA
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Company mission
Lendtable's mission is to democratize retirement planning and wealth-building, so everyone — regardless of race, gender, and socioeconomic status — can retire.
Our take
401(k) matching programs, i.e. employers matching their employees’ retirement fund contributions, are both a fantastic way to attract and keep talent, and an effective way of planning for the future. However, the system unsurprisingly favors the wealthy, who are more readily able to make larger cash contributions.
Lendtable is aiming to tackle this by offering cash advances (not loans) which employees use to full value out of their 401(k) matching plans, retirement annuity (403[b]) as well as employee stock purchase plan (ESPP). In return, the company charges a monthly subscription and a percentage of profit.
Given that around one quarter of American employees are not taking advantage, or are unable to take advantage, of their 401(k), Lendtable has considerable growth potential.
Freddie
Company Specialist at Welcome to the Jungle
Benefits
- Lunch and dinner (and snacks galore!)
- Commuter stipend
- Medical, dental, and vision coverage
- 401(k) program
- Paid time off
- Company tech, merch, and office space
- Mental health and wellness perks
Company values
- Be worthy of trust – Personal finance is serious business. We are dedicated to honesty, straightforwardness, and genuine care for our customers and their money.
- Embrace big ideas – Lendtable exists to fundamentally reshape personal finance and make it accessible to everyone, not just the rich. Only the most radical and revolutionary ideas will help us achieve that, and we work together to bring those big ideas to life.
- Create real value – Finance is a numbers-based institution, so we measure our success with quantifiable metrics: Particularly, dollars saved, earned, and invested on behalf of our customers.
- Build quickly – Time is valuable. Our team moves fast, builds with intention, and listens to customer feedback every step of the way, so every product iteration is more powerful than the last.
Funding (last 2 of 5 rounds)
Nov 2021
$18m
SERIES A
Apr 2021
$1m
SEED
Total funding: $23.2m
This company has top investors
Leadership
Mitchell Jones
(Co-founder)Forbes 30 under 30. Worked in investment banking for Goldman Sachs before joining Dropbox, then Meta, as a Product Manager. Founded and was CEO of Fintech startup Parable, which served as a prelude to Lendtable.
Sheridan Clayborne
(Co-founder)Forbes 30 under 30. Former Dropbox Machine Learning Product Manager. Founded and was CEO of social media following enhancer FollowerStack, as well as tattoo booking platform Slate Tattoo.