This Seattle fintech startup simply raised $11M on Zoom and shifted to a totally distributed workforce

This Seattle fintech startup simply raised $11M on Zoom and shifted to a totally distributed workforce

“It immediately made fundraising so much more difficult than expected,” stated Tony Huang, CEO and co-founder for the 3-year-old startup that operates a high-tech loan service that is small.

However the company wound up that is connecting Zoom telephone telephone telephone calls, no less — with New York-based Union Square Ventures, which ultimately led a $11 million round for available. It had been the deal that is first well-known firm completed over video clip conferencing.

Feasible announced the funding that is new, along side $80 million with debt funding from Park Cities Advisors to help supercharge its company.

Established in 2017, Possible provides loans all the way to $500 and it is comparable to payday loan providers, however with some distinctions. Borrowers have significantly more time for you to repay the funds in installments as well as the repayments are reported towards the credit reporting agencies, assisting individuals reconstruct their credit. Conventional payday loans are organized differently, so those re re payments don’t count for credit ratings, that may trap customers in a cycle that is costly of. Continue reading “This Seattle fintech startup simply raised $11M on Zoom and shifted to a totally distributed workforce”