NEW YORK–(COMMERCIAL THREAD) – NEW YORK – (BUSINESS WIRE) – Community Capital Technology Inc. (âCommunity Capitalâ), a business loan transaction marketplace and business intelligence platform, today announced that it has entered into a Series Seed funding of $ 2.6 million. The round was anchored by Naples Technology Ventures, a start-up venture capital fund located in Naples, Florida. The Pittsburgh-based 412 Venture Fund and Allegheny Financial Group, along with several other new angel investors and seasoned entrepreneurs also participated in the funding round.
The company will deploy the funding to expand its platform capabilities, advance product innovation, expand its operations and strengthen its sales and transactions teams, all with the goal of developing major new strategic partnerships, d ” further accelerate growth and strengthen the company’s digital strategy. leadership in secondary loan and equity markets.
Garrett Smith, Founder and CEO of Community Capital, said: âWe are delighted to have attracted such a strong network of investors into this critical cycle. Given their deep collective experience in the FinTech industry, their trust in us validates our value proposition and growth potential, while emphasizing that Community Capital’s platform is rapidly becoming the liquidity management solution. preferred by community financial institutions. The funding demonstrates the importance of providing more effective and efficient balance sheet management tools for these institutions, which are essential sources of capital for communities and businesses.
The announcement comes as the company has grown dramatically over the past six months. Despite a global pandemic, Community Capital has cemented several large client partnerships that bring its client base to more than 1,100 financial institutions nationwide. With billions of dollars in active proprietary transaction streams, the peer-to-peer loan transaction and analysis platform now supports the balance sheet and liquidity management needs of a broad network of loan issuers and investors, including regional banks, community banks, credit unions, and direct lenders, as well as service and technology providers that support these institutions.
- Neapolitan technology companies, led by seasoned fintech and financial services entrepreneurs, is a venture capital firm focused on early stage technology and services companies;
- Venture capital fund 412 is a Pittsburgh-based company run by successful entrepreneurs who leverage their operational experience to support businesses through mentoring and networking;
- Allegheny Financial Group, another Pittsburgh firm, is a financial advisory and investment firm that selectively invests in attractive startup opportunities alongside its UHNW clients;
In addition, most of Community Capital’s current investors have also participated in this cycle, including several experienced fintech entrepreneurs and angel investors.
âWe invested in Community Capital because we believe the sophistication and scalability of the technology platform, along with management’s strategic vision, is simply transformational in the evolution of the way financial institutions manage. their balance sheets and liquidity. There is a strong industry demand for this type of solution, and we are proud to help accelerate the future growth of the company as it expands its footprint, technology and team, âsaid Neeraj Vohra, investment director of Neapolitan technology companies and newly appointed member of the Community Capital Board of Directors.
Venture capital fund 412 Management partner, Ilana Diamond, added, âWe have successfully supported a number of FinTech companies and are particularly impressed with Community Capital’s team and approach to the market. Their rapid growth and early adoption by leading community-driven financial institutions is testament to its unique value proposition of providing better digital tools and analytical insights to increase the efficiency of lending transactions. We are excited to support the next phase of the company as it continues to deploy and develop partnerships across the United States â
âCommunity Capital has everything we look for in an investment: a team of seasoned entrepreneurs, strong market validation, cutting edge technology and a huge market opportunity. We are excited to help advance the company’s vision, said Jonathan kuhn of Allegheny Financial Group. ”
The two investment firms, 412 Venture Fund and Allegheny Financial, were introduced to Community Capital by SteelBridge Laboratories, another Pittsburgh-based company and an early investor in the company.
Prior to closing the fundraiser, Community Capital announced the release of its new technology platform, designed in close partnership with current clients and other financial institutions, which includes better transaction matching, decision intelligence and transaction management tools. In addition, the Company recently welcomed key new members to its business development team, including Matthew Bas, commercial director and Mick mcdonough, General manager. These executives bring extensive experience in the financial services industry, including Citizens Commercial Bank and GE Capital.
About Community Capital Technology Inc. (âCCTâ). Community Capital is a digital platform for optimizing the management of loan portfolios. The CCT loan transactions market provides regional banks, community banks, CUSOs, credit unions and other non-bank originators or investors of credit a simpler, more profitable and transparent way to buy, sell and / or participate in loans of any type. Member firms are able to effectively find relevant opportunities or capital partners, actively manage balance sheet risk and generate returns, which translates into better access to capital for their clients and communities. Visit www.communityct.com to learn more and follow on LinkedIn.
About Naples Technology Ventures (âNTVâ). Naples Technology Ventures is a venture capital firm that invests in early stage technology and service companies. NTV is looking for companies that present high added value and demonstrate that they are present in emerging and / or expanding markets with both a software as a service (SaaS) and / or a service-based model. NTV is focusing on investments in Seed Series and Series A + towers. For more information, visit www.naplestechnologyventures.com.
About the 412 Venture Fund (â412VFâ). 412 Venture Fund is a start-up venture capital firm, created by founders, for founders. 412VF is looking for companies that have a product on the ground, a scalable business model, and a diverse leadership team. In addition, 412VF is focused on finding companies that can benefit from 412VF’s experience and network in enterprise software solutions, healthcare IT, autonomous navigation, industrial solutions, artificial intelligence and consumer electronics. For more information, visit www.412venturefund.com.