Parlay
B2B SaaS helping community banks and credit unions attract, qualify, and convert more small business borrowers.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| N/A | €0.0 | round | |
| investor investor investor investor investor investor | €0.0 | round | |
* | $2.0m | Seed | |
| Total Funding | 000k | ||
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Parlay Finance is a forward-thinking startup founded in 2022, dedicated to enhancing financial inclusion and providing better access to capital for over 33 million small business owners across the United States. The company operates in the financial technology (fintech) sector, specifically focusing on underserved small business owners who often face challenges in securing loans.
Parlay Finance partners with lenders, such as credit unions and community banks, to offer a white-label product. A white-label product is a service created by one company that other companies rebrand to make it appear as if they had made it. This product helps lenders improve their loan approval rates and streamline the underwriting process, which is the evaluation of the risk of lending money. By using Parlay's platform, small business borrowers can easily compile and submit their loan application packets, making the process more efficient and increasing their chances of securing funding.
The company's business model revolves around providing this white-label solution to lenders, who then offer it to their borrowers. Parlay Finance makes money by charging these lenders for the use of its platform. This fee can be structured in various ways, such as a subscription model or a fee per transaction, depending on the agreement with the lender.
Parlay Finance's target clients are small business owners who need access to capital but struggle with traditional loan application processes. By simplifying and improving these processes, Parlay helps these businesses grow and thrive. The company also serves lenders who want to enhance their service offerings and support more small businesses in their communities.
In summary, Parlay Finance is a fintech startup that partners with lenders to provide a white-label loan application platform, helping underserved small business owners access the capital they need. The company makes money by charging lenders for the use of its platform, ultimately benefiting both the lenders and the borrowers.
Keywords: fintech, small business loans, financial inclusion, white-label product, loan application, underserved communities, credit unions, community banks, capital access, underwriting efficiency.