LendKey
| File:LendKey Logo.png | |
| Company type | Private |
|---|---|
| Industry | Personal finance Platform as a Service Software |
| Founded | October 2007 (originally Fynanz Inc.) |
| Founders | Vince Passione Michael Stallmeyer Anoop Thyagarajan |
| Headquarters | New York City, New York, U.S. Branch in Cincinnati, U.S. |
Area served | United States |
Key people | Vince Passione (CEO / Co-Founder) Michael Stallmeyer (COO / Co-Founder) Anoop Thyagarajan (SVP Infrastructure / Co-Founder) |
| Products | Private Student Loans Student Loan Refinancing Green Loans Home Improvement Loans |
| Website | www |
LendKey—originally launched as Fynanz Inc.—operates an online lending marketplace and platform as a service that allows consumers to access private student loans, refinance student debt, and obtain home improvement financing by connecting with local credit unions and community banks. Its cloud-based system empowers more than 13,000 community financial institutions across the nation to provide digital lending solutions across multiple loan categories.
Overview
Established in 2007 by Vince Passione under the name Fynanz, the company started with a peer-to-peer lending model focused on student loans. It distinguished itself by offering loan guarantees and utilizing alternative credit data for borrower evaluation. In 2013, the firm rebranded to LendKey and broadened its services to support credit unions and community banks through its platform.
The company raised $9.5 million during its Series A funding round in January 2010, followed by $12.5 million in Series B financing in August 2013, amounting to a total of $22 million in capital. Notable investors in Series B included Updata Partners, TTV Capital, Draper Fisher Jurvetson, and Gotham Ventures.
In 2021, LendKey introduced Aliro, a private marketplace designed to facilitate loan transactions between financial institutions.