Artis Technologies, a U.S.-based fintech that provides lending solutions for businesses, announced on Tuesday it raised $1.5 million through its Seed funding round from Fintech Ventures Fund and its affiliates. Founded earlier this year, Artis Technologies claims it powers modern lending solutions for businesses to provide low-friction, affordable financing to their customers at the point of need.
“Our API-based platforms creatively leverage alternative data sources and ML/AI-informed decisioning to present real-time loan offers fit to each individual borrower, all done within the banking industry’s current regulatory infrastructure.”
Artis further reported that it has secured $3 million to date in varying forms of debt and equity financing; the company previously received angel funds from an entity controlled by Brad Friedlander, company chairman, finance entrepreneur, and founder of Angel Oak Capital Advisors. While sharing more details about the company, Barclay Keith, CEO of Artis, stated:
“Launching during the pandemic proved to be a challenge, but also allowed for time to focus on our technology and broader product strategy – proving to our team, current and prospective investors, and clients exactly what we’re capable of. Our focus for the remainder of 2020 will be additional fundraising, implementing our initial financial institution partners, and continuing to build a great team and culture.”
Artis is planning to use the funds from the seed round to further develop its platform and continue its expansion.