Herio Capital Surpasses $10 Million Funding Milestone
Online SMB Lender Continues Rapid Rise After Successful Summer
NEW YORK, Sept. 24, 2015 /PRNewswire/ -- Online small business lender Herio Capital announced today that it has funded over $10 million to American entrepreneurs in 2015. The milestone comes following another record month of origination volume for the firm, in which Herio funded $3 million to borrowers.
"We are grateful to our sales partners for helping us achieve this milestone in such a short period of time," says Sherif Hassan, Founder and Managing Partner. "Our continued focus on building the most accurate credit model and the most efficient operations process to support our clients would not be possible without their efforts."
Satisfied clients like Becca McCarthy, owner of Brooklyn-based yoga studio Pure Barre, are a testament to the efficiency of the platform Herio is building. "Our first studio was running successfully and we saw an opportunity to open a second location," says McCarthy. "Herio listened to our story, assessed our needs and quickly provided a customized solution that had us poised for success." The loan to Pure Barre was approved and funded in two days, giving McCarthy the capital she needed to open the second location.
"We founded Herio with the goal of giving small businesses greater access to credit through the web," says Patrick Janson, Partner and Head of Product Management. "Providing a great user experience to businesses like Pure Barre is our sole mission as we scale our technology and business model."
Herio Capital is on target to achieve its funding goal of $25 million by the year's end, and is looking forward to exploring "The Future of Credit 2015" in a joint event with Orchard Platform on October 8th. Fintech thought leaders from Yodlee, LendIt, and Manatt, Phelps & Phillips will gather at New York City's Crosby Street Hotel to discuss how technology will drive the next generation of growth for credit and marketplace lending. For more information on the symposium, please email [email protected].
About Herio Capital:
Herio Capital is a financial technology company focused on providing loans to small businesses. By using the right mix of automation and human insight, Herio provides business owners with working capital in as little as 48 hours.
The founding team at Herio has funded over $1.5 billion in loans to more than 10,000 small businesses in 700 industries. For more information, visit Herio Capital online at www.heriocapital.com.
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SOURCE Herio Capital
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