February 13, 2018 Neptune Financial Inc., also known as NepFin, Business wire reports the launch of the first online commercial lending platformfor mid-sized U.S. business, creating a new source of credit as well as business software solutions for a large, thriving sector of the economy whose borrowing options are limited.
Led by ex-Funding Circle executives, Sands Capital Ventures leads $10 million Series A investment to bring total capital raised in the FinTech firm to $13 million. Michael Raab of Sands Capital states “for hundreds of thousands of mid-sized businesses looking to borrow, there aren’t many options that provide a smooth, transparent experience. NepFin is now offering something newer, faster and less expensive—and we are very optimistic about its strategy.”
NepFin was founded in 2016 by former senior counsel at Funding Circle, Albert Periu, and Thomas Meister. Periu states “NepFin is bringing customer-friendly, technological solutions to an industry that for too long has lacked a digital upgrade.”
The firm’s tools include an online dashboard for businesses and intermediaries to easily share, manage and track documentation, which creates a frictionless application experience for borrowers and their partners.
NepFin partnering with True North, a global FinTech development company, provided NepFin with deployment strategy, infrastructure and support, implementation of aws services, and software development services. True North provided Nepfin with Deveops and a Sr. Software Architect the team implemented technologies such as Elastic Container Service, RDS, CloudFormation and more. True North looks forward to continuing partnership with this innovative and ground-breaking company.
Neptune Financial Inc., or NepFin, is a next-generation financial services company. NepFin’s commercial lending platform provides growth capital and software tools to mid-sized American businesses. Headquartered in San Francisco, CA, NepFin is supported by the same early-stage investors as SoFi, Funding Circle, Lending Club and Upgrade. Co-founders Albert Periu and Thomas Meister launched the company in 2016 after working together as executives at Funding Circle. NepFin’s platform serves one the most underserved sectors of the broader U.S. economy – businesses with between $10 million and $100 million in revenue. NepFin provides loans of up to $60 million. For more information please visit www.nepfin.com.
About True North:
Originally founded as Nearshore Systems in 2016, True North is a global services company that works with global FinTech strategists, developers and accelerators to bring products and services to market. Co-founders Brian Samson, a recruitment executive, and Alex Gonikman, a software architect, lead a staff of over 40 employees.True North comprises a multinational team of experts headquartered in San Francisco, with offices in Buenos Aires and Tandil, Argentina. Global clients include: LendingClub, the world’s largest online marketplace for borrowers and investors; Hijro, which uses distributed ledger technology to power global financial networks built for trade; Upgrade, a consumer-credit platform for online personal loans and credit monitoring.
For additional details about True North’s services, visit www.truenorth.co
For job openings at True North, visit www.truenorth.co/careers