LendKey, a lending technology firm that serves credit unions and other lenders, said it has raised an additional $12.5 million in venture funding.
Formerly known as private student lending solutions provider Fynanz, LendKey, which is based in New York and Cincinnati, said the Series B funding was led by new investors Updata Partners and TTV Capital, as well as existing investors Draper Fisher Jurvetson and Gotham Ventures.
Founded in 2008 as a private student lending platform for financial institutions, LendKey said it will use the funds to expand its lending platform into new asset classes and accelerate the growth of its lending clients.
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