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Numerated
Digital lending platform for business banking
- 101-200 employees
- B2B
- Banking
- Lending
- Financial Services
- SaaS
- Boston, MA
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Company mission
To make business banking easy by dramatically reducing work for financial institutions and their customers using data.
34% employee growth in 12 months
Our take
Effectively managing cash flow is one of the biggest challenges for any business. Obtaining and managing loans in a timely and effective manner can be the difference between living in the black or bleeding in the red. In order to streamline loan acquisition process, Numerated has created a platform that greatly eases the role of lenders and borrowers.
Numerated uses data driven processes to simplify the purchase of financial products such as term loans, lines of credit, and equipment loans. A prime example of Numerated’s efficiency is that PPP loan processing was reduced from 15 hours to 2. Given the increased efficiency, Numerated has been utilized by a great number of banks and credit unions, automating roughly $50 billion in total lending on the platform.
With the digitization of lending well under way, Numerated is not alone in bringing an innovative, cost-saving lending platform to market, with notable competitors including Finanstra and Ellie Mae. However, given the impressive funding raised by the company and its presence amongst the tech stacks of top players in the field, it seems in good position to continue its success.
Freddie
Company Specialist at Welcome to the Jungle
Benefits
- 401(K)
- Dental and vision insurance
- Work from home opportunities
- Health insurance
Funding (last 2 of 3 rounds)
Sep 2019
$15m
SERIES B
Nov 2018
$8m
SERIES B
Total funding: $32m
Leadership
Dan O'Malley
(CEO)Prior to numerate, Dan co-founded an online financial service company, PerkStreet. Before PerkStreet, Dan co-founded Capital One's Payments division, where he created the industry-changing decoupled debit card and launched the company's prepaid business. Dan loves launching breakout new strategies, which he did in Capital One's corporate strategy team and at Oliver Wyman, one of the world's largest management consultancies