Bond Street, a small business lender is the latest company to announce a significant round of equity and debt financing. The deal, totaling $110 million was led by Spark Capital and Jefferies. There was other participation from previous seed investors which included Homebrew, Founder Collective, Collaborative Fund and Red Swan. New investors included Slow Ventures, Eagle Cliff, Nathan Blecharczyk (Co-Founder of Airbnb), David Chang (Chef and founder of momofuku) and Nic Jammet, Nate Ru and Jonathan Neman (Co-Founders of sweetgreen).
We reached out to David Haber, Co-Founder and CEO of Bond Street to talk more about Bond Street and what this latest announcement means for them. Bond Street started lending in the summer of 2014 and loans were initially capitalized by friends and family. In a short time, they decided they wanted institutional money to help fund the loans. In this deal, Jefferies will be the main investor in loans on the platform for the next 12 months. David mentioned that they may take these loans to the securitization market, something we are seeing more frequently in this space. [Read more…]