Black-Led, Gen Z Fintech Startup Providing Low-Income People With Investment Opportunities Announces Series A Round
A Black-led, Gen Z fintech startup providing income-constrained individuals investment opportunities has announced an $18M Series A investment round.
The group of diverse investors rallying up to fund Lendtable’s future included SoftBank’s SB Opportunity Fund, Valor Equity Partners, and CEOs of Complex Networks and Social Finance, Inc.
The fintech firm, run by founders under 30-years-old, has already disbursed over $2.4 million in match benefits to hundreds of employees in just a year, running the gamut from those employed by small consumer brand companies to Fortune 500 companies like Google, Microsoft, and Amazon.
Under its “comprehensive matchmaking” investing model, people are reportedly now able to afford further investments like a down payment on a car, mortgage, or continued savings because of Lendtable.
Founders Sheridan Clayborne, 22, and Mitchell Jones, 25, plan to use the funds for overall growth across staffing and product offerings to allow individuals to leverage other wealth-building techniques.
Since the company’s inception in 2020, the two men led the startup through pre-seed to Series A in under a year, bringing the total amount raised to $26 million. Existing investors Socii Capital and Streamlined Ventures also participated.
“This new capital will go towards greatly expanding the team, increasing the number of customers we can serve, and expanding our overall suite of financial products,” said Sheridan Clayborne, Co-founder of Lendtable.
“Right now, we help people take advantage of their 401(k) match and ESPP, but we’re going to go beyond that and hack other benefits to build long-term wealth.”