SME specialist lender Lendified raises $20m credit

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Lendified Holdings, a Canada-based start-up focused on SME lending, has raised a $20 million credit facility from Liquid Capital Corporation to fund its working capital loans portfolio. Lendified has also closed a further $4 million in mezzanine financing through a private placement, bringing its total funding lines to $24 million.

Launched in early 2015, Lendified provides SMEs access to working capital from $5,000 to $150,000 for terms of up to two years. In early 2016, it also purchased Mentio Technologies, adding additional data and analytics capabilities to its credit adjudication model.