LOS ANGELES, Aug. 17, 2016 /PRNewswire/ -- Camino Financial, an online credit marketplace focused on extending small business loans to Hispanic-owned businesses, the largest and fastest growing underbanked business segment in the U.S. The Company recently raised an additional $2 million in equity financing. The seed capital will be invested in ramping up its sales and marketing efforts, and building out its tech infrastructure as the Company expands.
"This is an exciting time for Camino Financial as we continue on a path to become a market leader in the online lending space," says Sean Salas, Chief Executive Officer. "The $2 million cash infusion will focus on our infrastructure for scalable growth, allowing Camino Financial to continue assisting Hispanic-owned businesses to access small business loans with best-in-class customer service."
Last November, Camino Financial raised $750,000 in seed capital backed by institutional and angel investors. As a result of its early traction, the Company raised an additional $2 million series seed financing led by Collaborative Fund and Hunt Holdings LP, in collaboration with Comcast Ventures Catalyst Fund and Impact America Fund, among other influential angel investors demonstrating their commitment, trust and vision in Camino Financial.
"The Salas brothers have continued to prove out their hypothesis that Latino-owned small business is one of the greatest opportunities for growth in the United States economy. Their progress to-date and our continued investment are both reflections of this reality," says Kanyi Maqubela, Partner at Collaborative Fund.
Twin brothers, Sean and Kenny Salas, incubated Camino Financial while completing their MBAs at Harvard Business School. As sons of an entrepreneur who lost her Mexican restaurant chain after 25 years in business, the Salas twins founded Camino Financial to empower small business owners with knowledge and capital.
To learn more about Camino Financial visit www.caminofinancial.com.
About Camino Financial
Camino Financial is a credit marketplace matching small businesses with the most affordable funding option offered by its network of reputable lenders. The Company specializes in originating loans for small businesses seeking an alternative capital source to a bank. Camino Financial also counsels its clients to improve their business credit and lower their interest rate.
SOURCE Camino Financial