Presta, an end-to-end digital lending platform that modernizes and accelerates loan origination, launched today after raising $3.3 million in an oversubscribed pre-seed round. The funding, led by Distributed Ventures and supported by Zeal Capital Partners, Matchstick Ventures, The Fund, Tech Stars, and Jumpstart Ventures, will support the continued growth of Presta’s digital platform and team expansion.
Presta’s lending software allows lenders to spend more time building relationships with clients and less time managing the time-consuming and manual aspects of their lending process.
Every year, thousands of lenders originate over $650 billion in small business loans, but nearly 60% of community banks, which are one of the main or primary lenders, fail.
Every year, thousands of lenders originate over $650 billion in small business loans, but nearly 60% of community banks, which are major originators of small business loans, do not provide online applications.
Small business loan originators do not provide online applications. Distributed Ventures is a Seed to Series B focused fund that invests in entrepreneurs who are changing the face of risk in Fintech, Insurtech, and Digital Health and Benefits.
The Distributed Ventures team, which includes former founders, investors, and operators, brings deep subject matter and early-stage operational expertise to help companies succeed from the start.
Zeal Capital Partners is a Washington, D.C.-based venture capital firm focused on accelerating economic mobility through its market-backed Inclusive InvestingTM discipline. It accomplishes this by investing in diverse management teams that are reimagining the pillars of wealth, such as education, employment, and financial health.
