Presta raises USD 3.3 million in fundraising to support the continued growth of their digital platform and expansion of its team.
FREMONT, CA: "A major industry pain point we continuously hear from lenders is the need to bring their lending processes into the 21st century. Presta's platform is tailor-made for small businesses and commercial lenders to accelerate the loan application and determination process," said Leopoldo Peña, CEO and Co-Founder of Presta. "The impact of Presta's digital lending infrastructure extends far beyond bottom-line benefits for its customers and streamlines the loan origination process, empowering lenders to prioritize relationship-building."
One of the leaders in digital lending platform service providers, Presta, reveals its USD 3.3 million in oversubscribed pre-seed fundraising. With this funding, Presta improves its digital platform and expands its team. With Presta's lending software, lenders can spend less time on tedious, manual tasks, giving them more time to build client relationships. Distributed Ventures led the fundraising with additional investment from Zeal Capital Partners, Matchstick Ventures, The Fund, Tech Stars, and Jumpstart Ventures.
"Recognizing the need to modernize the lending process, Presta's platform helps community banks step into the future of digital lending," said Shawn Ellis, Managing Partner at Distributed Ventures. "Our fund is committed to backing fintech pioneers and innovators that yield improved experiences and outcomes for financial institutions and their customers. Presta focuses on the often-overlooked segment of community banks and credit unions by bringing many of the functions they manage disparately today all together on one platform."
"Today and for far too long, the loan application process has been lengthy, manual, and ripe for disruption. We are excited to partner with Leo, Peter, and the team to improve the overall experience for borrowers and bankers," said NasirQadree, Founder and Managing Partner of Zeal Capital Partners. "With Presta, banks can revolutionize their credit products using automation, enhanced data, and analytics to simplify and accelerate lending decisions. We believe Presta will become a critical springboard as banks continue to innovate the financial services ecosystem."
