Lendified Inc.

Lendified Inc. is a Canadian fintech company specializing in providing innovative lending solutions for small businesses, enabling seamless access to capital through technology-driven platforms. Founded in 2015 in Toronto, Canada, Lendified Inc. is dedicated to streamlining the lending process for small businesses.

The company has undergone strategic pivots to enhance its digital offerings and has successfully raised a total of CAD 15. 000 mn in funding, primarily through its SERIES A round in January 2023. The firm was co-founded by Harish Patel, while Eoghan Bergin currently serves as CEO. Lendified has completed a total of 3 deals, with its most recent transaction occurring on January 19, 2023, when it was acquired by Merchant Growth Ltd, a portfolio company of Comvest Partners.

Lendified Inc. offers a range of digital lending solutions focused on providing small businesses with access to funding. Their core products include various loan products designed to meet the financial needs of enterprises from startups to established companies. The company focuses on simplifying the application process and enhancing customer experience through user-friendly technology, thereby enabling businesses to quickly and effectively secure the funding they require.

Lendified Inc. generates revenue primarily through interest on the loans it provides to small businesses. The company has structured its revenue model around various lending packages that cater to different client needs, resulting in a predictable revenue stream from the interest accrued over the loan terms. Furthermore, partnerships with financial institutions and other stakeholders enhance their market reach and revenue opportunities.

Looking ahead, Lendified Inc. plans to expand its product offerings to include new financing solutions tailored for a broader range of small businesses. With the recent CAD 15. 000 mn funding raised in January 2023, the company aims to leverage this capital to enhance its digital infrastructure and expand into new markets, including the United States and Europe, by the end of 2024.

The acquisition by Merchant Growth Ltd is expected to bolster Lendified's ability to serve new customers, further supporting its growth strategy.