About ModernLend
ModernLend was a Financial Services company based in New York (United States) founded in 2014 by Shuo Zhang. It offers credit builder loans to help individuals improve their credit scores. It operates on a B2C model. ModernLend has raised $40 thousand across 2 funding rounds from investors including Next Big Ventures and Entrepreneurs Roundtable Accelerator. The company is recorded as dissolved. Its focus areas include Banking, Lending and Credit Building. Its competitors include Self, Aura, Credknowledgy, Kovo Credit and ScreeCred and 3 more; 2 of its 8 listed competitors have raised funding.
Company details
ModernLend offers credit builder loans to help individuals improve their credit scores, focusing on offering financial products and advice, banking, facilitating loans and financing, and credit building. It serves clients with dedicated solutions, emphasizing quality, innovation, and sustainable growth in its core markets.
- Headquarters New York, United States
- Founders Shuo Zhang
- SectorsFinancial Services
- Website modernlend.com
- Social X Facebook
- Total Equity Funding$40K (USD)
in 2 rounds
- InvestorsNext Big Ventures
& 1 more
Funding Insights of ModernLend
ModernLend has successfully raised a total of $40K across 2 strategic funding rounds. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $40,000
- Total Rounds 2
- First Round $40,000
(Jun 2015)
- Investors Count 2
All 2 funding rounds of ModernLend with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jan 2016 | – | Seed | – | Next Big Ventures | – |
| Jun 2015 | $40,000 | Seed | – | – |
2 investors in total: 2 institutional.
Investors in ModernLend
ModernLend has secured backing from 2 investors, including venture fund investors. Prominent investors backing the company include Next Big Ventures and Entrepreneurs Roundtable Accelerator.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Early-stage investments are made in data-driven technology companies. | 2008 | nextbigventures.com | - | |
Startups are accelerated in fintech, SaaS, climate, and various sectors. | – | eranyc.com | New York, United States |
Investor details for ModernLend
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
People of ModernLend
1 people are tracked at ModernLend (1 in leadership).
| Name | Role | Group |
|---|---|---|
Shuo Zhang | Co-Founder | Leadership |
Complete people profiles for ModernLend
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
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Timeline of ModernLend
3 dated milestones of ModernLend across 2 years, from founding to its latest funding, stage changes and deals.
- Founded ModernLend is founded.
- Funding First funding round of $40K.
- Funding Latest funding round, Seed,.
Competitors of ModernLend
ModernLend has 8 listed competitors in our database, 2 of them funded. They include Self, Aura, Credknowledgy, Kovo Credit and ScreeCred, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| self.inc | 2015 | Austin, United States | $127.05M | 206 | Credit builder loans are facilitated via an online marketplace. | |
| myaura.com | 2012 | San Francisco, United States | $83.43M | 15 | Online platform for credit-building loans and investor bonds. | |
| credknowledgy.com | 2021 | Las Vegas, United States | – | – | Offers AI-based credit repair software for individuals and businesses. | |
| kovocredit.com | 2019 | Beaverton, United States | – | – | Platform for building credit via monthly installments, reporting, and identity monitoring services. | |
| screecred.com | 2022 | Houston, United States | – | – | Credit-building application for marginalized communities | |
| qwale.com | 2018 | New York, United States | – | – | Credit builder loans are offered via an online marketplace. | |
| creditbuildercard.com | 2016 | Denver, United States | – | – | A credit card designed to help users build and improve their credit scores effectively. | |
| primetradeline.com | 2021 | San Antonio, United States | – | – | Operates a digital marketplace for credit builder loans to help individuals improve their credit scores. |
Detailed competitors of ModernLend
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
Verified entity values are shown only after access is granted.
Top companies in Alternative Lending
10 companies that operate in the same segment as ModernLend (Alternative Lending), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Payment acceptance and processing solutions provider for businesses | 2018 | Gurugram, Haryana, India | USD 589.25 M | USD 179.52 M | 3,670 | |
A peer-to-peer marketplace for business loans is operated and developed. | 2010 | London, England, United Kingdom | USD 372.67 M | USD 299.61 M | 860 | |
Diversified loans are provided via an AI-enabled online marketplace. | 2012 | Palo Alto, California, United States | USD 128.65 M | USD 1.04 B | 1,190 | |
Various consumer loans and financial services are offered online. | 2011 | San Francisco, California, United States | USD 3.04 B | USD 4.77 B | 6,843 | |
Technology platform for real estate transactions and mortgages is provided. | 2014 | Gurugram, Haryana, India | USD 97.98 M | USD 28.9 M | 9,619 | |
Purchase financing solutions are offered to businesses via installment payments. | 2019 | Dubai, Dubai, United Arab Emirates | USD 837 M | – | 4,683 | |
Financial services are provided, specializing in personal and business loans. | 2016 | Mumbai, Maharashtra, India | USD 320.39 M | USD 106.45 M | 2,161 | |
Credit score checking and comparison platform for financial products | 2007 | San Francisco, California, United States | USD 869.77 M | – | 1,487 | |
Financial benefits platform for on-demand pay is provided to employees. | 2018 | London, England, United Kingdom | USD 133.02 M | – | – | |
Payflow is recognized as a financial wellness application for employees. | 2020 | Alcobendas, Comunidad De Madrid, Spain | USD 58.23 M | – | – |
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Frequently Asked Questions about ModernLend
ModernLend was founded in 2014 and raised its 1st funding round 1 year after it was founded.
ModernLend is headquartered in New York, United States. It is registered at New York, New York, United States.
ModernLend is a funded company, having raised a total of $40K across 2 funding rounds to date. The company's 1st funding round was a Seed of $40K, raised on Jun 2015.
ModernLend offers credit builder loans to help individuals improve their credit scores, focusing on offering financial products and advice, banking, facilitating loans and financing, and credit building. It serves clients with dedicated solutions, emphasizing quality, innovation, and sustainable growth in its core markets.
ModernLend has 2 investors. Key investors include Next Big Ventures, and Entrepreneurs Roundtable Accelerator.