Insider Brief
- Levr.ai, an intelligent loans software platform, has raised an additional $1 million, bringing its total funding to over $2.5 million, with investment from Weave VC, Sprout Fund II, and new investors, to support small business financing.
- The platform, leveraging AI and machine learning, streamlines the lending process for small businesses, offering visibility to lending options from over 40 partners and now serves over 2,000 businesses in Canada and the US.
- With a focus on empowering small businesses underserved by traditional banks and tech startups, Levr.ai aims to facilitate accessible and tailored funding solutions to promote business growth amidst challenges in accessing capital.
PRESS RELEASE — VANCOUVER, BC/February 20, 2024 /CNW/ — Levr.ai, the cutting-edge intelligent loans software platform, is proud to announce successfully raising another $1 million in additional funding, building on the momentum of its previously announced funding in 2023. This brings Levr.ai’s total funding to over $2.5 million. The latest investment comes at a crucial time for small businesses, to have innovative debt capital solutions, access to capital for entrepreneurs and control over their business finances.
This seed funding comes by way of follow-on investment from Weave VC and Sprout Fund II as well as several new investors. The $1 million injection of funds demonstrates investor confidence in Levr.ai’s mission, but also signifies a commitment to empowering small business owners with the financial tools and AI support to thrive in an increasingly challenging economic environment.
Levr.ai now powers over 2,000 small businesses across Canada and the US, with 30% of all traffic coming from the US as expansion begins stateside. A free Levr.ai account gives business owners visibility to lending options from over 40 strategic partners. All these businesses have onboarded to Levr.ai in the last 12 months. This explosive growth highlights the demand for businesses to understand and access capital.
Levr.ai is a game-changer in the world of small business financing poised to take advantage of AI — and be at the forefront of the AI wave. Built on cutting-edge artificial intelligence (AI) and machine learning (ML) algorithms, its proprietary recommendation engine streamlines the lending process making it faster, more accessible, and transparent than ever before.
Small businesses continue to grapple with limited access to capital, hindering their growth potential for 2024. According to research published by the Bank Policy Institute (BPI)1 as of 2021 over 80% of loans are facilitated outside of traditional banks. Kaylan Pepin, co-founder and CEO believes “by harnessing the power of AI and data analytics, Levr.ai is empowering entrepreneurs with accessible and tailored funding solutions to drive business growth at a critical time. We are building AI for the small businesses that big banks struggle to service and tech startups often ignore.”
Levr.ai is committed to driving positive change in the small business lending landscape, and the recent $1 million investment positions the company to expand its reach and impact to millions of more businesses.
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1 https://bpi.com/assessing-the-decline-in-bank-lending-to-businesses/
