5 Fintechs You (Probably) Should Know By Now – Page 3
Trumid: Secure Trading Marketplace for Corporate Bonds
Launched in 2015, this bond-trading startup has already attracted investor attention, with overall funding of $33.25 million from the likes of Peter Thiel and George Soros.
The company calls itself “revolutionary,” with the goal of “creating an all-to-all electronic credit trading platform,” according to the company website. Trumid first started with high-yield and distressed bonds, adding investment-grade bonds at a later stage. The startup focuses on open access and liquidity for both buy and sell sides.
Lenda: One-Stop Home Loans
Originally launched in 2011 as Gorefi, Lenda went through a major update in 2014, rebranding itself as Lenda. Smart move, apparently, considering that the company has raised $4 million in six rounds of founding since then.
The platform allows users to refinance their home loans online, from start to finish, with realtime quotes and digital documentation. Lenda reduces the time to close from two months to an average of 45 minutes, and it can save borrowers around $20,000 in fees, the company said. Fintechs are only starting to get comfortable in the online home lending space, with players such as Quicken Loans, so it may take a while for the new entrants to scale.
