What does Parlay Finance do?
Parlay Finance is a Washington, DC-based SaaS provider offering an AI-powered loan intelligence system that streamlines digital onboarding, verification, and eligibility assessments to help lenders efficiently qualify SBA and small business loan prospects.
How much did they raise?
The company raised $2M in a Seed round led by JAM FINTOP, with no additional participant investors mentioned.
What are their plans for the money?
The funding will be used to expand product development, deepen integrations with existing systems of record, and grow its network of community lenders and mission-driven financial institutions, potentially boosting lending volume and profitability.
What have they achieved so far?
Under CEO Alex McLeod's leadership, Parlay Finance has already developed a robust platform that effectively complements loan origination systems, demonstrating significant progress in streamlining loan processes.