Become, the Israeli startup that operates a business lending marketplace to give SMBs more funding options, has closed $10 million in Series A investment.
Claiming that the small business lending landscape is “fundamentally flawed,” with 58% of SMBs denied access to funding, Become’s platform uses technology to give each business a “LendingScore” based on how fundable its algorithms think it is.
The Become marketplace then allows multiple lenders to offer tailored offers to the businesses registered on the platform and compete for an SMB’s custom.
To compound this, he says that the lending market is fragmented, consisting of hundreds of alternative lenders, and SMBs don’t know which to choose.
With regards to competitors, Become competes with both lending marketplaces and business profiling products.