Utah’s Lendio, An Online Marketplace For Small Business Loans, Secures $55M

Lendio, a Lehi, Utah-based free online marketplace for small business loans, has secured $55 million in capital. That includes $31 million in equity led by Mercato Partners’ Traverse Fund and a $24 million debt facility from Signature Bank. According to the company, the equity round was oversubscribed by existing investors including Napier Park Financial Partners, Comcast Ventures, Blumberg Capital, Stereo Capital and Runa Capital. It brings Lendio’s total raised since it was founded in 2011 to $108.5 million, according to Crunchbase data. The company’s last raise was a $19 million Series D, raised at a pre-money valuation of $75 million in October 2016, according to Cruchbase data.