Latest news with #JAMFINTOP
Business Wire
09-06-2025
- Business
- Business Wire
Parlay Closes Seed Round and Partners with JAM FINTOP to Transform Small Business and SBA Lending
WASHINGTON--(BUSINESS WIRE)--Parlay Finance, an AI-powered Loan Intelligence System, today announced a $2 million seed funding round led by JAM FINTOP. This capital positions Parlay to continue scaling its technology nationwide, helping community lenders unlock substantial growth in the $1.4 trillion small business lending market. "By democratizing access to AI-powered technology, Parlay is helping community banks to better compete while advancing their mission to serve local businesses." Closing the Small Business Lending Gap While small businesses drive 44% of U.S. GDP, the lending infrastructure serving them remains stuck in the past – until now. Parlay's Loan Intelligence System (LIS) unlocks legacy bottlenecks that have plagued community lenders for decades. By complementing existing Loan Origination Systems (LOS), the LIS empowers lenders to increase loan volume, improve operational efficiency, and maximize profitability without increasing risk. The platform's capabilities include digital customer onboarding, information verification, and an AI-powered decision management system to streamline processes for Small Business Administration (SBA) loans, which are traditionally complex and costly to underwrite. The LIS expedites eligibility verification and identifies the best-fit loan products for each applicant. "JAM FINTOP's investment and network of banks creates a powerful multiplier effect for our technology," said Alex McLeod, CEO and co-founder of Parlay. "Through this partnership, we're empowering community lenders nationwide to maintain rigorous underwriting standards while drastically improving operational efficiency and insight. By democratizing access to AI-powered technology, Parlay is helping community banks to better compete while advancing their mission to serve local businesses." Next-Generation Technology Meets Proven Market Access This funding comes as Parlay deepens partnerships with several JAM FINTOP Network banks who recognize the platform's value in streamlining SBA processes and increasing operational efficiencies. The capital will accelerate Parlay's mission to democratize access to capital through better lending technology for community banks and credit unions nationwide. The company will expand product development, deepen integrations with existing systems of record, and grow its network of community lenders and mission-driven financial institutions. Stephen Schroder will be joining Parlay's board of directors as the company continues to scale. 'Small business lending represents one of the most compelling growth opportunities for our bank limited partners, yet execution requires the right technology and infrastructure," said Stephen Schroder, Investor at JAM FINTOP. "Parlay has built what our banks need: a system of intelligence that integrates with existing systems of record to deliver substantial improvements in both volume and efficiency. We are confident the team's deep understanding of banking operations and proven ability to execute will drive value for financial institutions nationwide.' For community lenders ready to capture market share in small business lending, Parlay represents the competitive advantage they have been waiting for. About Parlay Parlay Finance is a SaaS-based Loan Intelligence System (LIS) that helps lenders efficiently qualify SBA and small business loan prospects. Their AI-powered platform streamlines digital onboarding, verification, and eligibility assessment while complementing Loan Origination Systems to boost volume and profitability. For more information, visit About JAM FINTOP JAM FINTOP is a joint venture between JAM Special Opportunity Ventures and FINTOP Capital. The partnership brings together bank experts and seasoned fintech entrepreneurs to invest in companies changing the way financial institutions and their customers move, track, and interact with money. For more information, visit
Finextra
09-06-2025
- Business
- Finextra
Parlay Finance secures $2 million in Seed funding
Parlay Finance, an AI-powered Loan Intelligence System, today announced a $2 million seed funding round led by JAM FINTOP. 0 This capital positions Parlay to continue scaling its technology nationwide, helping community lenders unlock substantial growth in the $1.4 trillion small business lending market. Closing the Small Business Lending Gap While small businesses drive 44% of U.S. GDP, the lending infrastructure serving them remains stuck in the past - until now. Parlay's Loan Intelligence System (LIS) unlocks legacy bottlenecks that have plagued community lenders for decades. By complementing existing Loan Origination Systems (LOS), the LIS empowers lenders to increase loan volume, improve operational efficiency, and maximize profitability without increasing risk. The platform's capabilities include digital customer onboarding, information verification, and an AI-powered decision management system to streamline processes for Small Business Administration (SBA) loans, which are traditionally complex and costly to underwrite. The LIS expedites eligibility verification and identifies the best-fit loan products for each applicant. "JAM FINTOP's investment and network of banks creates a powerful multiplier effect for our technology," said Alex McLeod, CEO and co-founder of Parlay. "Through this partnership, we're empowering community lenders nationwide to maintain rigorous underwriting standards while drastically improving operational efficiency and insight. By democratizing access to AI-powered technology, Parlay is helping community banks to better compete while advancing their mission to serve local businesses." Next-Generation Technology Meets Proven Market Access This funding comes as Parlay deepens partnerships with several JAM FINTOP Network banks who recognize the platform's value in streamlining SBA processes and increasing operational efficiencies. The capital will accelerate Parlay's mission to democratize access to capital through better lending technology for community banks and credit unions nationwide. The company will expand product development, deepen integrations with existing systems of record, and grow its network of community lenders and mission-driven financial institutions. Stephen Schroder will be joining Parlay's board of directors as the company continues to scale. 'Small business lending represents one of the most compelling growth opportunities for our bank limited partners, yet execution requires the right technology and infrastructure," said Stephen Schroder, Investor at JAM FINTOP. "Parlay has built what our banks need: a system of intelligence that integrates with existing systems of record to deliver substantial improvements in both volume and efficiency. We are confident the team's deep understanding of banking operations and proven ability to execute will drive value for financial institutions nationwide.' For community lenders ready to capture market share in small business lending, Parlay represents the competitive advantage they have been waiting for.
Yahoo
18-02-2025
- Business
- Yahoo
DiligentIQ Raises $12 Million in Series A Funding Round Led by FINTOP Capital to Accelerate AI-Powered Due Diligence in Private Markets
NEW YORK, February 18, 2025--(BUSINESS WIRE)--DiligentIQ, the leading AI-powered platform for conducting private equity due diligence, has raised up to $12 million in a two-tranche Series A funding round led by FINTOP Capital and partner JAM FINTOP. The investment will be used to scale DiligentIQ's team and operations as it expands its presence in private markets. It will also accelerate product innovation, expand integrations, and scale go-to-market efforts. DiligentIQ is a generative AI platform that is tailored to support the nuanced needs of private market investment professionals as they evaluate deal opportunities. The technology securely ingests deal documents typically found in virtual data rooms (VDRs) while rapidly analyzing and categorizing them to extract critical insights. By delivering clear, actionable intelligence, and reducing the need for manual workflows, DiligentIQ enables investment teams to digest complex information and identify opportunities and risks with greater speed and accuracy. The company was founded by Ed Brandman, former Partner, Chief Information Officer and Head of Credit Operations at global investment firm Kohlberg Kravis Roberts & Co. (KKR). After a career in private markets, Ed recognized the potential for generative AI to address the tight time constraints and the vast amounts of data inherent in due diligence processes by streamlining analytical workflows. "We're excited to partner with FinTop Capital as we bring AI-powered intelligence to the due diligence process in private markets," said Ed Brandman, Founder and CEO of DiligentIQ. "Our platform serves as a co-pilot for investment teams, enabling them to streamline analysis of VDR documents and focus on what drives deal value - from growth opportunities and early detection of risks to operational improvements." "DiligentIQ is more than just another AI tool, it's a transformational force in private markets," said Rick Kushel, Managing Partner and Co-Founder of FINTOP Capital. "Ed and his team have built a purpose-driven platform that not only accelerates due diligence but enhances the quality of investment decision-making. We see DiligentIQ becoming an indispensable part of the private equity workflow, and we're proud to support their vision." DiligentIQ is already deployed across leading private equity firms, family offices and diligence advisory firms, including HarbourVest Partners, Fortress Investment Group, Investcorp, and PPC Enterprises. Professionals interested in learning how DiligentIQ can accelerate their due diligence process should request a product demonstration at About DiligentIQ DiligentIQ is the leading provider of AI-powered private market due diligence solutions being used by over 65 GPs, LPs and Family Offices. By combining advanced artificial intelligence with deep private markets expertise, DiligentIQ helps investment professionals conduct more thorough, efficient, and accurate due diligence. The company's platform is trusted by leading private equity firms and diligence advisory firms to streamline their due diligence processes while maintaining the highest standards of accuracy and compliance. For more information, visit About FINTOP Capital FINTOP Capital is a venture capital firm focused on early-stage fintech companies. With over $700 million in committed capital across five funds, FINTOP brings decades of fintech founding and operating experience to the boardroom, partnering with innovative entrepreneurs to push the frontiers of the financial services sector. For more information, visit About JAM FINTOP JAM FINTOP is a joint venture between JAM Special Opportunity Ventures and FINTOP Capital. The partnership brings together bank experts and seasoned fintech entrepreneurs to invest in companies changing the way financial institutions and their customers move, track, and interact with money. For more information, visit View source version on Contacts Media David SchraederHead of Sign in to access your portfolio
