Jenfi, a growth capital as a service platform, has just announced an additional injection of investments totalling $6.5M, bringing the total raised to date to $17.5M. New Enterprise Associates and 1776 Ventures led the new funding round, with participation from The Perkins Fund, Arcturus Ventures, and PanaCloud.
Growth Capital as a Service Revolution
Jenfi has been gaining traction in the space of Growth Capital as a Service (GCaaS). It provides businesses of any size and stage with access to the debt and equity capital they need to reach their goal without the headache of traditional financing, such as completing lengthy paperwork or facing tight lending criteria.
To accomplish this, Jenfi uses cutting-edge technology to assess businesses’ credit profiles and to develop a growth capital plan that optimizes funding through multiple sources. This approach currently allows it to offer users the best interest rates, versus traditional financing options, and access to growth capital in as little as 72 hours.
These qualities have made the platform, but they have also allowed the platform to portray market resilience in the face of the pandemic. Jenfi has continued to thrive in the brave new world of remote funding, launching eight new products and expanding into four new countries in 2020.
The Benefits of the Additional Funding
The new funding round will allow Jenfi to expand its product offering and increase its geographic reach while improving its product features. The platform’s developers plan to use the additional capital to continue perfecting its innovative algorithms, which will make obtaining loans easier for businesses. They envision a future where Jenfi users can search for financing in a matter of minutes and autocomplete their loan applications in a few clicks.
The new capital will also help Jenfi move forward with its mission to make access to growth capital more accessible and affordable for businesses. The platform is committed to rolling out new features and additions, such as an Invite-Only Growth Capital Portal, that give small and medium-sized businesses access to private funding sources.
The new funding round of $6.5M further underscores the market potential of Jenfi’s groundbreaking Growth Capital as a Service platform. Its innovative algorithms and streamlined process make it a promising platform for businesses looking to access capital quickly and easily. With this new funding, the platform can further its mission to make access to growth capital more accessible and affordable, giving businesses the funding they need to reach their targets.