Synthetic Data Software startup Syntho

 NEW YORK –  After receiving USD 3.3 million in an oversubscribed pre-seed fundraise, Presta, an end-to-end digital lending platform that streamlines and expedites the loan origination process, announced its debut. The money will support the further development of Presta’s digital platform and the growth of its staff under the direction of Distributed Ventures with additional investment from Zeal Capital Partners, Matchstick Ventures, The Fund, Tech Stars, and Jumpstart Ventures. With the help of Presta’s lending software, lenders can manage all aspects of their lending process in one place, freeing them more time to focus on cultivating client connections.

Around $650 billion in small business loans are originated annually by thousands of lenders. Yet, approximately 60% of community banks, one of the largest sources of these loans, still need to provide online application options.

“The need for lenders to modernize their lending procedures is a significant industry pain issue that we consistently hear from lenders. Leopoldo Pea, CEO and Co-Founder of Presta stated that the platform is specifically designed for small companies and commercial lenders to expedite the loan application and approval process. “Presta’s digital lending infrastructure has an impact that goes well beyond the bottom line advantages for its consumers and simplifies the loan origination process, allowing lenders to emphasize relationship-building.”

Leopoldo Pea and Peter Truog’s initial venture, The Opportunity Exchange, which assisted communities in bringing together local entrepreneurs and equity investors, inspired Presta. Presta’s primary goal is to increase the efficiency of business lending by providing a single platform for all process phases, including outreach, application, underwriting, closing, servicing, and reporting.

Cega Finance (“Cega”) is happy to announce that it has concluded a USD 5 million investment round, which was led by Dragonfly Capital and continuing to include contributions from Robot Ventures and Pantera Capital (Tarun Chitra and Robert Leshner). The business has now secured USD 9.3 million in total initial investment.

Lenders can increase their income while reducing the costs associated with the outdated, ineffective lending procedures they now oversee. By providing digital tools to create pipelines and attract clients that are digital natives, Presta assists lenders in meeting their customers where they are as modern enterprises seek finance through technology. Also, using Presta, lenders may contact more clients, originate more loans, and increase interest revenue.

We try our  best to fact-check and bring the best, well-researched, and non-plagiarized content to you. Please let us know

-if there are any discrepancies in any of our published stories,

-how we can improve,

-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback, and thank you for stopping by! 

Next Article

Previous articleCalifornia-based software development startup Orb raises USD 14 million in Series A funding
Next articleIsrael-based Trobix Bio raises USD 3 million in funding
Kshitij does business research and content writing for VCBay. Pursuing BBA from Symbiosis Center Of Management Studies (SCMS) Pune, he is skilled in Financial Modeling, Stock valuation and Microsoft Excel. He is passionate about Entrepreneurship and Finance.


Please enter your comment!
Please enter your name here