Camino Financial recently raised $2 million in equity financing for seed capital it intends to plunk into ramping up sales and marketing and investing in its tech infrastructure.

The online credit marketplace uses an online assessment tool to gather up big data and better evaluate a small business borrower’s best loan options. That’s followed up by a phone counseling session to help the business owner choose their best financing option.

The company was launched in Southern California by twin brothers Sean and Kenny Salas, and about two years ago, they brought Camino Financial to Boston. Camino Financial focuses in particular on Hispanic business owners, and the brothers’ inspiration for their business comes from watching their mother struggle with her own business during the recession of the early 1990s.

“This is an exciting time for Camino Financial as we continue on a path to become a market leader in the online lending space,” CEO Sean Salas said in a statement. “The $2 million cash infusion will focus on our infrastructure for scalable growth, allowing Camino Financial to continue assisting Hispanic-owned businesses to access small business loans with best-in-class customer service.”

Last November, Camino Financial raised $750,000 in seed capital backed by institutional and angel investors. As a result of its early traction, the company raised an additional $2 million series seed financing led by Collaborative Fund and Hunt Holdings LP, in collaboration with Comcast Ventures Catalyst Fund and Impact America Fund, among other influential angel investors.

Camino Financial Raises $2M In Equity Financing

by Banker & Tradesman time to read: 1 min
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