Nav Raises $44M
Nav, the Salt Lake City-based company helping business owners manage their business credit and get access to financing, has raised $44m in a Series C round led by Goldman Sachs with participation from Point72 Ventures, Experian Ventures, Aries, and CreditEase Fintech Investment Fund.
Founded in 2012, Nav Technologies allows small businesses to access financing by showing them their credit reports from major consumer and commercial credit bureaus for free. In addition, businesses can apply for different products such as credit cards, loans, and invoice financing.
“We are pleased Goldman Sachs led this round of funding. We look forward to continuing to support Nav’s efforts to scale their platform as they make financial options more readily accessible for millions of small business owners.” – Managing Director, Goldman Sachs Principal Strategic Investment group, Rana Yared.
“Imagine a single platform that uses data to anticipate and deliver all of a small business owner’s financial needs. Because we can see the pattern of everything from who gets approved for financing to who has strong cash flow, we can solve for the myriad financial considerations for small businesses. This also means we’re doing legwork for lenders by matching them to the most appropriate candidates.” – cofounder and CEO of Nav, Levi King.