Canadian fintech startup Lendified completed $60 million in debt financing from ClearFlow.
As an online lender for small businesses, Lendified offers a customizable platform to financial institutions throughout the world as an alternative to traditional bank loans and expensive merchant advance financing. Small businesses can apply online in under 10 minutes, get an instant decision, and receive funding in as fast as 48 hours.
ClearFlow will provide Lendified with a $60 million credit facility to fund loans delivered through the Lendified website, as well as increase its lending capacity.