We are excited to announce that Fintech Ventures Fund has led a CDN $4.4 million strategic growth equity investment in IOU Financial.
Our General Partner, Serguei Kouzmine, has joined the company’s Board of Directors.
More information on the transaction can be found in the following press release.
About IOU Financial:
IOU Financial provides small businesses throughout the U.S. access to the capital they need to seize growth opportunities quickly. Typical customers include medical and dental practices, grocery and retail stores, restaurant and hotel franchisees and e-commerce companies. In a unique approach to lending, IOU Financial's advanced, automated application and approval system accurately assesses applicants' financial realities, with an emphasis on day-to-day cash flow trends. The company makes loans of up to $150,000 to qualified applicants within a few business days, with affordable charges favorable to cash-flow management. IOU Financial's speed and transparency make it a trusted alternative to banks.