Business loan innovator Lendio nabs $55 million in fresh funding

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LEHI — Utah business loan innovator Lendio announced a fresh $55 million Series E funding round Thursday led by local venture investment firm Mercato Partners.

Lendio co-founder and CEO Brock Blake said the new capital infusion, which includes both equity investment and debt facility, will help fuel plans for market expansion and continued product development.

“This $55 million round is a significant milestone in Lendio’s mission to fuel the American dream as a financial matchmaker that brings high-tech, high-touch capital to the small-business economy,” Blake said in a statement. “With these funds, we are strongly positioned to grow our existing platform as a trusted loan facilitator that supports both lenders and borrowers, while building out a range of new integrated lending services that get the right loans into the right hands at the right time.”

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