February 24, 2015
FundThrough launches the first online lending platform to finance businesses in Canada
Toronto, ON-- FundThrough, a technology-driven online lending platform that changes the way businesses access financing, officially launched today. FundThrough is the first marketplace platform that offers lines of credit to growing businesses in Canada.
"For a long time Canadian business owners have relied on big banks for financing, and often have not had attractive alternatives if they were turned down or could not wait," said Steven Uster, Co-Founder and CEO of FundThrough. "FundThrough uses technology to provide an alternative to traditional lending sources, giving small- and medium-sized business owners access to a more convenient way of borrowing, enabling them to unlock the growth potential of their business."
FundThrough raised $2.2 million in financing from a group of investors led by Real Ventures, Canada's largest and most active seed venture fund. The funds will be used to scale the platform in order to service more growing businesses. Other investors include: Origin Merchant Partners, Five Elements Ventures, Barlow Lane Holdings, Jim Case and Peter Carrescia.
"We are thrilled to be investing in FundThrough," said Janet Bannister, General Partner at Real Ventures. "Online marketplace lenders like FundThrough are using technology to change the way businesses borrow money. They are disrupting the financial services industry by putting more power in the hands of business owners. We look forward to working closely with the FundThrough team as they grow their company in Canada and internationally."
FundThrough was co-founded by three entrepreneurs – Steven Uster, Graham McBride and Deepak Ramachandran – who understand the pressures faced by small and medium sized business owners and the frustrations that come with accessing financing. FundThrough was created to make accessing capital simpler, faster and more flexible for businesses.