Total amount raised reaches $12 million; the fintech startup has processed over $60 million in loan applications year-to-date and plans to launch additional small business banking products in 2021
NEW YORK, Sept. 8, 2020 /PRNewswire/ — Salaryo, a pioneering fintech platform for U.S. freelancers and startups, today announced it has raised a total of $5.8 million in funding from Variant Investments, Dubai-based private equity fund KEN Investments, Techstars Ventures and Michael Ullmann’s investment group, bringing its total funding to $12 million. The majority of the round was funded earlier this year and the company will use the funds to propel the growth of its small business lending activity and to launch new business banking products in 2021.
Salaryo provides fully-digital business term loans and lines of credit for small businesses. The company has successfully provided financing to hundreds of entrepreneurs and