Recently named a Top 50 Boston Startup to Watch in 2019, market by helping banks reinvent business banking for the digital age. Businesses are critical to bank balance sheets, and loans are a runway for gathering deposits, feeding larger C&I loans, and expanding share-of-wallet. However, technology has changed business banking: customers demand faster, simpler, omnichannel products/services, and banker and retail teams are in painful need of tools and data to help them attract customers and sell products.
Numerated was founded to help banks thrive in this modern business banking landscape with its real-time lending and growth platform. Numerated’s end-to-end platform unlocks profitable bank growth through a powerful combination of real-time lending customer experience, automated underwriting, and modern marketing and sales tools.
Numerated’s technology was originally developed within and for $11B Eastern Bank, the largest mutual bank in the US. After growing its portfolio 4X into the #1 SMB lender in Boston (out-competing megabanks, and generating $2K in cost savings per loan and a 2X increase in WAIR), the technology was spun out in 2017 as an independent company backed by leading fintech investors, including Venrock and FIS.
In 18 months since this spin-out, Numerated is quite literally breaking through the fintech noise. The software has been adopted by top business banks, including Bremer, First Federal Lakewood, Franklin Synergy, Horizon, MidFirst, People’s United, Seacoast, and more. Banks have decisioned $500M through the software, which supports loans and lines of credit up to $250K, combination loans/LOCs, SBA loans, business credit cards, business overdraft, and agricultural loans.