NEW YORK, Oct. 21, 2019 -- Finitive (www.finitive.com), a financial technology platform providing institutional investors with direct access to alternative lending investments, announced today that it closed a $2 million venture debt round with Silicon Valley Bank (SVB), the leading technology and innovation-focused bank. Finitive will use the proceeds to further invest in its technology platform, which brings efficiency to investing and raising capital in the alternative lending sector.
Through Finitive, institutional investors access a multi-trillion dollar market that encompasses a broad spectrum of non-bank lending sectors, including specialty finance, online lending, marketplace lending, and private credit funds. SVB is an active participant on Finitive's platform and joins other industry leading investors in Finitive's network such as UBS O'Connor, Fortress, CarVal, and Ninepoint Partners.
"Silicon Valley Bank is committed to supporting innovative businesses that are disrupting the status quo," said Annie DeStefano, Vice President at Silicon Valley Bank. "We look forward to continuing our relationship with Finitive as the platform scales and becomes an essential network for facilitating alternative lending transactions."
Jon Barlow, CEO and Founder at Finitive said, "We are excited to partner with Silicon Valley Bank. This strategic capital source contributes to our growth trajectory as we continue to simplify a complex industry."
Finitive also announced today that it has appointed Brian Madocks, a business technology and application software solutions veteran, to its board of advisors.
Brian is Chief Executive Officer and a member of the Board of Directors of eOriginal, the leading platform for creating, managing, and monetizing trusted digital loans. Brian is responsible for all aspects of eOriginal, including development and execution of the company's strategy and operating plans.
With more than 25 years of industry experience, Brian has served as CEO of Revitas, Inc., Vitalyst, Inc. and SunGard Higher Education, as well as Senior Vice President and General Manager of SAP America. Each of these companies grew significantly under his leadership and resulted in successful outcomes for customers, partners, employees and shareholders.
"Brian's track record of growing business technology companies and his experience in the digital lending space brings tremendous value to Finitive," said Mr. Barlow. "We look forward to working together to bring greater transparency to the private debt markets."
Headquartered in New York, Finitive is a financial technology platform providing institutional investors with direct access to alternative lending investments. Through Finitive, institutional investors access a multi-trillion-dollar market that encompasses a broad spectrum of non-bank lending sectors, including specialty finance, online lending, marketplace lending, and private credit funds. Finitive's originator partners gain efficient access to a global network of investors who actively allocate to alternative lending. Since its founding in August 2017, Finitive has facilitated over $1.5 billion in capital commitments from top-tier institutional investors. All regulated activities are conducted through North Capital Private Securities, a registered broker-dealer and member FINRA/SIPC. For additional information, please visit Finitive's website at www.finitive.com.