The Financial Technology Report is pleased to announce The Top 25 Lending Technology Companies of 2024. From consumer credit and cryptocurrency to small business loans, the fintech sector is experiencing a spur of innovation in part driven by advancements in AI. This wave of progress has driven both startups and legacy companies to introduce new solutions in consumer and business banking. The companies being recognized on this year’s list have consistently demonstrated an ability to anticipate and adapt to evolving trends and to offer market leading solutions to their customers.
Among this year’s awardees is LendingTree, a marketplace with a network of more than 500 partners that allows consumers to shop for financial services. Another notable awardee is Biz2Credit, a company that has a track record of over $8 billion in small business loans and financing. Nexo, whose platform allows users to buy, sell, and exchange more than 70 supported cryptocurrencies, also earned recognition for its innovations.
This year’s awardees were selected from a competitive set of nominees. Please join us in recognizing the accomplishments of The Top 25 Lending Technology Companies of 2024.
1. Upstart
Upstart, an AI lending marketplace, connects consumers with over 100 banks and credit unions. Through artificial intelligence models and cloud applications, borrowers can access various credit products, including personal loans, automotive retail and refinance loans, home equity lines of credit, and small-dollar relief loans. Upstart’s technology helps users get loan approvals faster and more efficiently. Founded in 2012, Upstart is headquartered in San Mateo, California, and went public in 2020.
Through the application of AI in lending, Upstart aims to provide a more efficient and accurate system for both borrowers and lenders. The company has helped over 2.9 million customers access $36 billion in loans since its founding in 2012. Recently, Upstart collaborated with Kia to implement a Reservation and Deposit System to launch the new Kia EV9 SUV in the United States, exclusively utilizing Upstart's Auto Retail Build & Price Reservations feature. Furthermore, Upstart has expanded AI-powered vehicle financing nationwide, enhancing the online buying experience for consumers, and providing dealers with streamlined and unified digital desking and DMS integrations.
2. LendingTree
LendingTree, headquartered in Charlotte, North Carolina, is an online marketplace that allows consumers to shop for financial services by comparing multiple offers from a nationwide network of over 500 partners, choosing the option that best fits their financial needs. Services include mortgage loans, mortgage refinances, auto loans, personal loans, business loans, student refinances, credit cards, insurance, and more.
LendingTree was founded in 1996 and began nationwide operations in 1999. With more than 500 employees in offices in Denver, Seattle, and Charlotte, it continues to expand its financial offerings for consumers nationwide. Through the LendingTree platform, consumers receive free credit scores, credit monitoring, and recommendations to improve their credit health. LendingTree proactively compares consumers' credit accounts against offers on their network and notifies them when they can save money. In 2024, LendingTree secured $175 million in funding from Apollo Funds.
3. CrossCountry Mortgage
CrossCountry Mortgage (CCM) is a retail mortgage lender, employing over 7,000 staff across 800 branches and servicing loans in all 50 states. Offering more than 120 mortgage, refinance, and home equity solutions, CCM caters to a wide range of needs, from conventional and jumbo mortgages to government-insured programs for veterans and rural homebuyers. The company is a direct lender and approved seller and servicer by Freddie Mac, Fannie Mae, and Ginnie Mae. CrossCountry Mortgage is headquartered in Cleveland, Ohio, and was founded in 2003.
In a recent development, CrossCountry Mortgage partnered with the National Association of Real Estate Brokers. This alliance underscores CCM's dedication to facilitating homeownership opportunities for families nationwide, from first-time homebuyers to government-insured programs for Veterans and rural homebuyers. Additionally, CCM's acquisition of AmCap Home Loans, a privately held mortgage lender headquartered in Houston, Texas, aligns with its growth strategy to expand market share. This move reaffirms CCM's vision to establish itself as a premier mortgage lender and earn the trust and referrals of communities nationwide.
4. Enova
Enova is a financial services company specializing in online lending for small businesses and consumers underserved by traditional banks. Founded in 2003 and headquartered in Chicago, IL, Enova has provided over $53 billion in loans and financing to more than 9.5 million customers worldwide by leveraging advanced analytics and machine learning algorithms. The company employs over 1,500 people across offices in Chicago, Cincinnati, Denver, New York City, and São Paulo, Brazil.
With their goal of providing efficient credit solutions, Enova's Focused Growth strategy has facilitated rapid expansion, delivering world-class products and services. The company’s online-only business model minimizes environmental impact by reducing paper consumption and offsetting emissions through donations to global pollution reduction projects, such as wind power generation in India and Amazon rainforest protection in Brazil.
Committed to sustainability, Enova selects eco-conscious corporate headquarters and satellite locations. It also promotes the use of public transit through commuter benefits, exemplifying its dedication to responsible business practices.
5. LendingClub
LendingClub Corporation is the parent company of LendingClub Bank, National Association, and Member FDIC. The company provides personal loans, business loans, auto refinancing, and banking services for over 4.8 million members, with a workforce of over 1000 employees. The company was started in 2007, and is headquartered in San Francisco.
Through a technology-driven platform, members can access a wide variety of financial products and services tailored to facilitate better borrowing and saving opportunities. These include a cash-back Rewards Checking account and High-Yield Savings and CD accounts with no monthly maintenance fees. LendingClub also offers flexible and industry-leading Small Business Loans as a nationwide SBA Preferred Lender. The company has an impressive track record, encompassing more than $75 billion in loans and leveraging advanced credit decisioning and machine-learning models, LendingClub ensures its members can access credit while also providing risk-adjusted returns for loan investors.
6. Upgrade
Upgrade has facilitated over $25 billion in consumer credit, benefitting millions of families nationwide through credit lines, personal loans, and banking services since its founding in 2017. It is headquartered in San Francisco, California, with operational hubs in Phoenix, Arizona, Montreal, Canada, and regional offices in Atlanta, Georgia, and Irvine, California. Upgrade partners with banks like Cross River Bank and Blue Ridge Bank to offer responsible credit solutions. Additionally, Sutton Bank issues Upgrade Card and Upgrade OneCard under a Visa U.S.A. Inc. license. Upgrade Card and Upgrade OneCard offer cash-back rewards with no annual or late fees.
Upgrade prioritizes affordability and responsibility in its credit, mobile banking, and payment products. The company focuses on helping its customers make sound financial decisions, for a variety of purchases, without banking fees. In a recent development, Upgrade acquired Uplift for $100 million in cash and stock to enhance travel accessibility and affordability for countless consumers.
7. Avant
Avant offers innovative financial solutions, such as personal loans and credit cards tailored to individual needs. Since its inception in 2012, Avant has helped nearly 3 million customers access $8 billion in loans and 1 million credit cards. Avant is a byproduct of the Y Combinator startup accelerator program. After just three years, Avant reached a valuation of $1 billion and is considered a unicorn startup. The company has secured over $600 million in equity capital. Avant is headquartered in Chicago, IL, and employs over 400 people.
From home improvement loans to debt consolidation loans and credit cards, Avant provides individuals with tools to realize their financial goals. In 2022, Avant and Major League Soccer announced a multi-year partnership, with Avant being named the league’s official credit card partner. In January 2022, the number of Avant credit card holders surpassed 1 million and continues to grow as more customers seek out its credit solutions.
8. Abrigo
Abrigo, headquartered in Austin, Texas, is a provider of risk management, financial crime prevention, and lending software and services for over 2,400 financial institutions. It was founded in 2019 following the integration of Banker’s Toolbox, MainStreet Technologies (MST), and Sagework. Abrigo has since expanded its portfolio with acquisitions such as Farin Financial Risk Management in 2019, Valuant, BankLabs’ solutions in 2022, and DiCOM Software in 2023. Abrigo also recently acquired TPG Software, strengthening its suite of solutions for financial institutions.
Abrigo provides intuitive banking software to enable customer success. The company notably introduced an advanced Fraud Detection platform that uses AI to combat fraud more efficiently. Strategic partnerships with Mitek and Prelim further enhanced fraud detection and streamlined deposit account opening processes, solidifying Abrigo's position as a trusted ally for financial institutions globally. Abrigo also offers advisory services for customers who need help managing their portfolios, evaluating risk, and more. Its advisory team includes former C-suite credit and risk executives, bank examiners, and BSA officers. In total, Abrigo has over 500 employees.
9. Biz2Credit
Biz2Credit is a small business funding solution that leverages technology and data analytics to simplify the funding process for business owners worldwide. The company has a team of over 550 global professionals, including engineers, marketers, and data scientists. It has a track record of over $8 billion in small business loans and financing. Biz2Credit was founded in 2007 and is headquartered in New York City.
Backed by top investors and over 200,000 small business customers, Biz2Credit provides entrepreneurs with technology-driven tailored funding options. Its proprietary technology matches small businesses to funding that meets their needs based on the company’s unique features and profile. In 2019, Biz2Credit achieved a $52 million Series B funding milestone. Notably, Biz2Credit's influence extends beyond direct lending, as demonstrated by its flagship platform, Biz2X. It has been incorporated by industry leaders like HSBC and TATA Capital for their online lending initiatives.
10. Nexo
Nexo, a digital finance lending institution, has been providing financial services since 2018. Combining extensive FinTech experience with blockchain technology, Nexo has processed over $130 billion for 6 million users in 200 jurisdictions, enabling them to leverage the value of their crypto assets for a more inclusive financial system. Nexo offers a comprehensive suite of products, including advanced trading solutions for retail and institutional clients, liquidity aggregation, and asset-backed credit lines. The Nexo platform allows users to buy, sell, and exchange more than 70 supported cryptocurrencies. Nexo prioritizes safety by incorporating Cryptocurrency Security Standard Level 3, which requires advanced authentication mechanisms. Nexo is also ISO/IEC 27001 certified, reflecting their rigorous safety policies and security.
In 2022, Nexo launched Nexo Ventures, its investment arm, which supports a portfolio of over 60 companies. Recently, it partnered with Sift to enhance digital risk protection and streamline user experiences. Nexo also recently became a member of the International Association for Trusted Blockchain Applications (INATBA). This collaboration will enable Nexo to actively engage and contribute to critical areas such as regulatory compliance and education.
11. Lendio
Lendio, founded in 2011 and based in Utah, aims to help small businesses secure vital funding. As a small business loan marketplace, Lendio has a nationwide network of more than 75 lenders. Through its platform, Lendio facilitates connections among small companies, lenders, and service providers, streamlining the loan process for many entrepreneurs. Lendio software utilizes AI to match businesses with tailored financing solutions. This approach has led to over $15 billion in financing to more than 400,000 small businesses across the United States.
Notably, CCBank has partnered with Lendio, leveraging its Intelligent Lending™ technology to bolster small business funding opportunities in Utah. Recently, Lendio launched a mobile app for small businesses to manage their financial affairs efficiently. With every loan facilitated, Lendio Gives contributes a portion of funds to support low-income entrepreneurs globally through Kiva. The company’s philanthropic efforts have raised more than $3 million for borrowers in more than 80 countries, including Senegal, Rwanda, Zimbabwe, Tanzania, and Peru.
12. Earnest
Earnest, established in 2013, helps past, present, and prospective students alike optimize their financial trajectories through guidance and financial products. The company is headquartered in San Francisco, California, and is focused on improving access and affordability in higher education.
Earnest offers a range of education tools and lending solutions that help students mitigate the overall cost of education and accelerate their journey toward debt repayment to guide their transition to financial stability. The company offers private student loans with low rates and personalized service, along with student loan refinancing for borrowers looking to lower their interest rates. Earnest also facilitates access to thousands of scholarships. Students can be matched to scholarships that fit their educational goals through Earnest’s platform, Going Merry. Since 2019, Earnest has awarded over $900,000 to 185 college students. Earnest is also a founding member of the Fintech Equality Coalition, which focuses on enabling a more inclusive financial ecosystem.
13. SmartBiz
SmartBiz, an AI-powered small business financing platform, connects entrepreneurs with over $9 billion in funding, including SBA 7(a), PPP, and bank term loans. Headquartered in San Francisco, California, and Austin, Texas, SmartBiz recently expanded its offerings through a partnership with Sunflower Bank, N.A., launching a new online lending platform for small businesses. This partnership will help SmartBiz further its goal of providing small business owners with reliable funding.
With a network of banks and lending partners, SmartBiz streamlines the process of small business owners and entrepreneurs acquiring capital. It serves more than 230,000 entrepreneurs and prioritizes minority, women, and veteran-owned businesses. SmartBiz has helped fund over $9 billion in small business loans, 60% of which went to women, minority, or veteran-owned businesses. In 2022, SmartBiz also awarded $25,000 in grants to minority-owned small businesses. It is backed by investments from Venrock, Investor Growth Capital, and others. SmartBiz is the number one facilitator of SBA 7(a) loans under $350,000.
14. FinMkt
FinMkt’s cloud-based technology powers consumer lending, point-of-sale financing, and payment solutions for lenders and enterprise partners of all sizes. Offering turnkey and customized SaaS options, FinMkt removes the barriers of legacy technology and resource limitations to help clients become more competitive, adapt to market changes, and better serve their customers. The company, which is headquartered in New York City, was originally founded as Crowdnetic in 2014 and rebranded to FinMkt in 2016.
FinMkt allows banks, credit unions, and other financial entities to customize solutions and transition from outdated legacy systems. The company’s developer team powers API-driven embedded solutions. FinMkt expanded into the Buy Now, Pay Later space with a fully customizable POS financing platform and into the personal loan space with Lendvious, an app that matches users to different lenders. FinMkt integrates with lending partners such as GoodLeap, Foundation Finance, American Heritage Federal Credit Union, PowerPay, Dividend, Upgrade, OneMain Financial, and Concord.
15. GAIN Credit
GAIN Credit, a fintech enterprise established in 2003, relies on a team of fintech professionals to deliver financial services underpinned by technology and analytics.GAIN Credit LLC prioritizes leveraging tech and data science to serve its growing clientele. GAIN Credit provides credit services to customers who aren’t otherwise served by mainstream financial services. The company's headquarters are in San Diego, California, and it has a UK branch in London and a subsidiary in Chennai, India.
GAIN Credit's portfolio comprises three flagship products: Lending Stream, which offers short-term loans as an alternative to payday lending; Drafty, a solution providing financial products similar to loans, overdrafts, and credit cards; and Synapi, a subsidiary SaaS arm catering to the needs of lenders and merchants. Lending Stream has been providing short-term loans online since 2008 as an alternative to Payday Loans. GAIN Credit aims to provide accessible and responsible credit solutions. Customers can access support and flexible payment options according to their needs. Since 2003, GAIN Credit has served more than one million customers.
16. LoanPro
LoanPro is a scalable, API-first modern lending platform. The company offers lending programs that drive loan growth and operational efficiency. Founded in 2015, LoanPro is headquartered in Farmington, UT, with over 200 team members. Recently, LoanPro partnered with Rapid Enterprise, a division of Rapid Finance, to provide Lending-as-a-Service solutions to small business owners.
LoanPro enhances the lending journey with loan servicing and management, payments, collections, and data access built on a modern lending core. Its scalable, cloud-native architecture services a wide range of loans and credit cards. Since LoanPro is built on its own API, it can integrate with existing products to automate processes and further improve efficiency. To date, LoanPro has launched more than 2,000 unique credit programs and powered 30 million accounts. In 2022, LoanPro launched Becoming More, the company’s charitable arm that focuses on helping impoverished communities in Cambodia. Becoming More has helped over 2,400 people access clean water, and over 2,000 people access dental care.
17. Credibly
Credibly is a data science-driven fintech lending platform. Since its establishment in 2010, Credibly has facilitated over $2.0 billion in capital flow to over 30,000 SMBs, maintaining a dedication to risk management and regulatory compliance. The company has offices in Michigan, New York, and Arizona.
Leveraging advanced data science, technology, and strategic partnerships, the company helps business owners access capital solutions. Offering a suite of financing products, from working capital loans to merchant cash advances, Credibly caters to businesses at various stages of development and credit profiles. In 2017, Credibly became the first company in its sector to acquire servicing rights to another alternative lender's portfolio. In 2021, Credibly acquired ProApprove, a platform designed to help homeowners with prime, near-prime, and non-prime credit finance repairs.
Credibly recently joined forces with GO2bank to create Credibly Business Checking. This new business bank account is designed to help small business owners better manage their finances, with no minimum balance requirements or monthly maintenance fees.
18. Momnt
Momnt, headquartered in Atlanta, Georgia, launched in 2020. Momnt’s platform enables businesses to integrate financing into their sales processes while customers can choose suitable payment plans. Momnt helps customers drive merchant growth and create new revenue streams while providing extended personalized financing solutions. The company has served more than 3,000 merchants and 5,000 customers and has originated over $800 million in loans.
In 2023, the company raised $15 million to grow its lending and financing platform. Also in 2023, the company announced a financing partnership with the online roofing company Roofle, giving homeowners the ability to obtain quotes and secure financing online. Other recent milestones include securing a $200 million warehouse facility from Macquarie Group in partnership with Saluda Grade Joint Venture, a $15 million investment influx, and a collaboration with Acorn Finance to improve lending for home improvement merchants. In 2023, Momnt partnered with Paradigm to launch Paradigm Finance, a financing platform for home contractors, and also launched WRANGLD Finance in partnership with WRANGLD.
19. LendKey Technologies
LendKey specializes in "lending-as-a-service" solutions for credit unions, community banks, and customers. It offers digital loan origination and servicing capabilities and a loan trading marketplace platform called ALIRO, streamlining transactions for financial institutions and fintech companies. Founded in 2009, LendKey is headquartered in Cincinnati, Ohio. The company has helped over 160,000 borrowers and funded more than $6.3 billion in loans. In 2022, the company reported record revenue growth, with year-over-year revenue up 50%.
LendKey’s approach includes digital lending networks to create standard lending programs for private student loans, refinancing, and home improvement loans. Leveraging LendKey's platform, clients benefit from streamlined acquisition and servicing processes. Since its founding, LendKey has helped over 350 financial institutions increase their digital presence and offer competitive loan programs.
Recent partnerships with CrossState Solutions, Cornerstone Resources, and Payitoff demonstrate LendKey's commitment to empowering credit unions and expanding their financial product offerings. These collaborations enhance access to comprehensive financial services, including private education loans, student loan refinancing, and home improvement loans.
20. Zest AI
Established in 2009, Zest AI is headquartered in Los Angeles, California. It leverages machine learning to enable lenders to make more informed decisions, mitigate risk, and streamline the compliance process. Credit Unions and Banks using Zest AI have seen a 25% increase in loan approvals. The company also recently introduced LuLu, a lending intelligence companion that equips lending organizations with a tailored generative AI tool. LuLu facilitates real-time access to insights, metrics, and product knowledge. Zest AI also expanded into the auto lending industry with the launch of Zest Auto in 2022.
Zest uses technology and data insights to facilitate more inclusive lending. The company’s fairness tools help reduce bias in lending with pioneering algorithms that build smarter credit models. Through its partnership with Verity Credit Union, Zest AI has expanded credit access to underserved communities. This included notable increases in loan approvals for seniors, women, African Americans, Asian Pacific Islanders, and Hispanic borrowers.
Recently, Zest AI announced a partnership with Origenece and Point Predictive, designed to use AI technology to improve the accuracy of credit decision-making. Point Predictive integrated their BorrowerCheck platform with Zest AI, while Origenence arc OS customers can use Zest AI to enhance their underwriting model.
21. Splash
Splash Financial, a student loan refinancing market, is a technology platform that collaborates with financial institutions to help customers refinance and optimize their student loan payments. It has a network of over 100,000 accounts and handles refinancing requests exceeding $9 billion. Splash was established in 2013 in Cleveland, OH. The company has raised more than $60 million in venture capital from investors that include Northwest Mutual and CMFG Ventures. Furthermore, it has expanded its portfolio to include personal loans.
Since its inception, Splash Financial has grown to include over 100,000 accounts. In 2022, the company reported record growth as its proprietary lending technologies powered a 52% increase in student loans. Key partners include First Northwest Bancorp, Bethpage Federal Credit Union, First Tech Federal Credit Union, and Pentagon Federal Credit Union. Splash Financial also partnered with the Cleveland Browns in the 2020 season as the team’s student loan refinancing partner. In 2023, the company partnered with FairPlay to offer unbiased loan decisions across its network of bank and credit union partners.
22. Supernova Technology
Founded in 2014, Supernova Technology offers cloud-based, configurable, end-to-end software solutions to automate securities-based lending from origination through the loan's life. Supernova Technology is part of the 13.8% of American tech companies using AI in their business. The company, headquartered in Chicago, Illinois, has more than 120 global team members. Aiming to improve the financial ecosystem, the company partners with large banks, insurance companies, and leading online brokerages to democratize access to securities-based lending. This includes partnerships with Nationwide, Alden Investment Group, and First Citizen’s Wealth Management.
In 2023, Supernova Technology announced a partnership with Old National Bancorp to provide Old National’s customers with a new digital platform that enables custom lending solutions. Recently, Supernova Technology launched its AI-powered document assistant Prism, which can extract data from PDFs in minutes with over 95% accuracy. Prism uses Supernova Technology’s proprietary large language models and optical character recognition to streamline the data extraction process. The company also announced the launch of Aperture, a holistic bank collateral management solution.
23. Ascent Funding
Ascent, founded in 2018, offers financial products and support services to help customers access higher education. The company is headquartered in San Diego, California. In 2023, the company acquired Ampersand, a web-based professional development platform. It also expanded its impact loan program to make education more accessible to adult learners. Over the next five years, Ascent aims to increase students’ income by $10B.
Ascent offers college loans, impact loans, boot camp loans, and career loans. The company’s flagship is the College Outcomes-Based Loan, a nontraditional college loan available to upperclassmen students without a cosigner or sufficient credit to secure a traditional student loan. Thirty percent of Outcomes-Based Loan borrowers increase their credit score by over 100 points.
Ascent provided $112 million in Ascent College Loans to students with no cosigner and $30 in total disbursements to minority-serving institutions. Ninety three percent of its borrowers qualify as low-income. Ascent also has awarded over $170,000 in scholarships and helped over 13,000 students with personalized coaching and educational resources.
24. Numerated
Numerated is a digital loan origination system that uses data and AI to drive profitability and deliver commercial loan origination solutions for financial institutions. The company, headquartered in Boston, Massachusetts, has facilitated $50 billion in lending transactions since its inception in 2017. The company secured $9 million in financing from Cultivation Capital FinTech and Venrock with Eastern Bank, FIS, First Federal Lakewood, Hyperplane, and Bright FinTech. The Numerated platform streamlines the origination process for various business banking products, utilizing data-driven insights from application to closure.
Numerated has served over 400,000 businesses and 30,000 financial institutions. The company’s clients include financial institutions like Bremer Bank, Dollar Bank, and Eastern Bank, representing a combined asset base of $1 trillion. In 2019, Numeated integrated PayNet’s risk analytics technology into its digital solutions. A recent collaboration with Moody’s Analytics created The Lending Suite, which offers an enhanced digital and automated loan process. In 2023, Numerated expanded its strategic partnership with the leading fintech investor, JAN FINTOP, to gain additional market opportunities.
25. BeSmartee
Established in 2007, BeSmartee has facilitated over $25 billion in monthly transactions for lenders and brands worldwide. After years of development, the platform launched in 2016. The company partners with more than 150 lenders. Since its inception, BeSmartee has aimed to achieve a 7-day mortgage close.
In 2018, the company integrated with Equifax to further automate its service options and with Fannie Mae’s Desktop Underwriter to accelerate the mortgage process. In 2021, the company secured an investment from M33 Growth. In 2023, Hawthorn River, a loan origination software solution for community banks, announced a partnership with BeSmartee. BeSmartee optimizes data and processes to improve operational efficiencies in digital mortgages. Its FlashSpread product leverages optical character recognition, AI, and proprietary algorithms to streamline the loan committee approval process.
Recent advancements include unveiling Bright Connect, a native mobile app for lenders, and reintroducing Bright POS, a streamlined mortgage point-of-sale (POS) solution. Additionally, BeSmartee recently announced a strategic partnership with Polly.
