![[Funding news] NYC-based Ned Secures $4.2Million in Equity Seed Funding](https://startuprise.io/wp-content/uploads/2024/10/NYC-based-Ned-Secures-4.2Million-in-Equity-Seed-Funding.webp)
Ned is a cash flow lending platform, has raised $4.2 million in seed funding. The funding round was led by Impression Ventures, with additional support from Capital Eleven.
The company is plans to use the money to expand its operations and reach more customers. Founded by Dave Silverstein (CEO) and Mayur Motgi (Co-Founder and Chief Product Officer) Ned’s platform helps lenders see business performance throughout the lending process. It offers transparency and automation making it easier for lenders to assess cash flow and provide financing to businesses.
Read also – [Funding news] NC-based mPATH Secures $3Million in Funding
It’s platform supports lenders by integrating cash flow transparency allowing them to create tailored loan products assess risks, and manage repayments. It’s already being used by lenders across the country and can handle various repayment options.
About Ned
Ned is designed to help businesses that have strong potential but may not meet traditional lending criteria like credit history or collateral. This way lenders can confidently provide financing to those businesses.
