DURHAM – LoanWell, a fintech startup that recently was selected for a new Google accelerator program, has $715,000 in new cash thanks to 11 investors.
According to a securities filing, LoanWell has raised $715,00 in a mix of debt and options.
In late July LoanWell received work that it had been selected for the Google for Startups Accelerator: Black Founders.
LoanWell, founded by Bernard Worthy, 32, is a cloud-based business-to-business platform that builds software for community lending institutions like CDFIs, credit unions and loan funds. Its mission: to enable efficient and easy access to capital for small businesses and entrepreneurs.
In 2018 LoanWell raised $200,000 in equity and debt.