Bank of Montreal went online with the first digital credit application in 1997. That effort, from its mortgage division, was named to our Fintech Hall of Fame. Not only was it the first mortgage app online, it was the first online credit app of any kind.** Naturally, we were excited about it at the time, naming it the biggest innovation of the year.
Unfortunately, we didn’t track when the first business loan application went online, but it was likely a few years later, let’s call it 2000/2001. So, the capability has existed for 25 years. But as you can see from the chart below, the digital SMB lenders began in earnest during and immediately after the 2007/2008 financial crash. Ten of the 36 largest were started in the 2007 to 2012 period.
Digital Lenders: Year Founded
Prior to 2008 >>> 6 | 2008 to 2011 >>> 7 | 2012 to 2015 >>> 13 | 2016 to 2019 >>> 7 | 2020 or later >>> 4
Resources: Looking for digital banks, lenders, payment providers, insurance or digital accounting for small businesses? Check out our latest lists: Small Business (SMB) savings/treasury accounts (7) | SMB online lenders (33) | SMB challenger banks (15) | SMB insurers (15) | SMB credit cards/expense management (16) | Billpay & invoicing (16)| Payment processors (7) | SMB digital accounting/bookkeeping (21)
Digital Small-Business Lenders*
| Rank | Company | FAB Score | Founded | HQ | Funding ($M) | Visits (May ’25) |
| 1 | Bluevine | 356 | 2013 | SF | 769 | 1,300,000 |
| Ad* | Clear Inc | 2019 | NYC | INA | 1,700 | |
| 2 | CAN Capital | 213 | 1998 | Atlanta | 1177 | 2,300 |
| 3 | Lendio | 198 | 2011 | Utah | 109 | 920,000 |
| 4 | OnDeck | 190 | 2007 | NYC | 1200 | 200,000 |
| 5 | Capchase | 182 | 2020 | NYC | 1060 | 39,000 |
| 6 | Clearco | 176 | 2015 | Toronto | 859 | 28,000 |
| 7 | Uncapped | 161 | 2019 | London | 361 | 53,000 |
| 8 | Nav | 146 | 2012 | Utah | 92 | 670,000 |
| 9 | Pipe | 102 | 2019 | Miami | 423 | 57,000 |
| 10 | FundBox | 90 | 2013 | SF | 554 | 105,000 |
| 11 | Lighter Capital | 85 | 2010 | Seattle | 246 | 25,000 |
| 12 | Biz2Credit | 76 | 2007 | NYC | 387 | 140,000 |
| 13 | BHG Financial | 34 | 2001 | FT Lauderdale | 29 | 95,000 |
| 14 | Arc | 31 | 2021 | SF | 181 | 41,000 |
| 15 | Lendistry | 29 | 2015 | Brea, CA | 100 | 65,000 |
| 16 | Camino Financial | 22 | 2014 | LA | 170 | 4,800 |
| 16 | Novel Partners | 22 | 2018 | Overland Park, KS | 115 | 2,000 |
| 16 | HoneyComb Credit | 22 | 2017 | Pittsburgh | 32 | 33,000 |
| 16 | Fundera (NerdWallet) | 22 | 2013 | NYC | 19 | 99,000 |
| 20 | BriteCap | 21 | 2003 | SF | 120 | 32,000 |
| 20 | Credibly | 21 | 2010 | Detroit | 82 | 42,000 |
| 22 | BizFI | 20 | 2005 | NYC | 160 | 260 |
| 23 | IOU Financial | 18 | 2011 | Atlanta | 132 | 5,500 |
| 24 | Patch Lending | 11 | 2013 | LA | 55 | 23,000 |
| 25 | SMBX | 10 | 2016 | SF | 15 | 20,000 |
| 26 | SMB Compass | 8 | 2017 | Rye, NY | 0 | 38,000 |
| 26 | Revenued | 8 | 2015 |
New Jersey
|
41,000 | |
| 26 | Rapid Finance | 8 | 2005 | Bethesda, MD | 0 | 38,000 |
| 29 | Upright (was Fund that Flip) | 7 | 2014 | NYC | 33 | 13,000 |
| 29 | SmartBiz Loans | 7 | 2009 | SF | 37 | 14,000 |
| 29 | Channel Partners | 7 | 2009 | Minneapolis | 50 | 5,000 |
| 32 | P2Binvestor | 4 | 2012 | Denver | 33 | 400 |
| 32 | Lendr | 4 | 2011 | Chicago | 25 | 6,200 |
| 34 | SnapCap (LendingTree) | 3 | 2012 | Charleston, SC | 0 | 14,000 |
| 35 | Salaryo | 2 | 2017 | NYC | 12 | 70 |
| 36 | QuickFI | 1 | 2018 |
Fairport, NY
|
3,300 | |
| 37 | Lendinero | 0 | 2014 | Miami | 0.03 | 900 |
Source: Compiled by FintechLabs, 1 July 2025, from Crunchbase, SimilarWeb, SEMRush data
“Was” ranking as of 3 Sept 2024, funding includes debt & equity
*(As nerds do) We have developed a proprietary score measuring the adoption of private digital financial services companies that do not release traditional metrics (# customers, loans, orginations, etc). We are calling it the FAB score, standing for Fintech Attention Barometer. It’s a work in progress, so expect changes in the formula.
**A defunct Canadian bank, Bayshore Trust, launched the first online loan application in March 1996.
***Several lenders pay Fintech Labs a referral fee for funded loans. Those fees may impact placement on our website.
Top 30 Alt-Lenders (Digital) Lending to Small-to-Medium Businesses (SMB) in the United States
Rank (by FAB score and our picks)
1. Bluevine
FAB Score = 356 (up 48)
– HQ: San Francisco
– Founded: 2013
Traction:
– Raised: $769M prior to 2021 (Crunchbase)
– Website visits: 1.5 million (SimilarWeb, Aug 2025)
– Employees (Pitchbook): 543 vs. 591 in May ’25; 618 in Sep ’24; 584 in Jan ’24; 578 in Nov ’23; 576 in May ’23
– LinkedIn: 65,000 followers (553 employees vs. 566 in May ’25; 590 Sep ’24; 608 in Jan ’24; 582 in Nov ’23)
– Trustpilot: 4.4 (9,o10 reviews vs. 8,380 in May ’25; 8,100 in Sep ’24)
2. CAN Capital
FAB Score = 213 (up 86)
– HQ: Atlanta
– Founded: 1998
– Raised: $1.2B including $175M in 2024 (Crunchbase)
– Website visits: 4,500 (SimilarWeb, Aug 2025)
– Employees: 395 (Pitchbook), unchanged since July ’23
– Articles: 92 (Crunchbase)
– Linkedin: 14,000 followers (242 employees vs. 240 in May; 243 in Sep ’24; 246 in Jan ’24; 254 in Nov ’23)
– Trustpilot: 4.9 (1,190 reviews vs. 1,160 in May ’25; 1,130 in Sep ’24)
3. Lendio
FAB Score = 198 (up 88)
– HQ: Salt Lake City, Utah
– Founded: 2011 (originally founded in 2006 as FundingUtah).
– Raised: $109M prior to 2021 (Crunchbase)
– Website visits: 750,000 (Aug 2025, SimilarWeb)
– Employees (Pitchbook): 449 vs. 418 in May; 420 in Sep ’24; 515 in Jan ’24; 578 in May ’23
– LinkedIn: 21,000 followers (459 employees vs. 433 in May ’25; 421 in Sep ’24; 441 in Jan ’24; 503 in Nov ’23)
4. OnDeck (acquired by Enova Oct 2020)
FAB Score = 190 (down 45)
– HQ: NYC
– Founded: 2007
– Raised: $1.2B prior to 2021 (Crunchbase)
– Acquired by Enova in Oct 2020 for $120M
– Website visits: 280,000 (Aug 2025, SimilarWeb)
– Employees: 746 (Pitchbook), unchanged since Sep ’24
– LinkedIn: 30,000 followers (411 employees vs. 387 in May ’25; 321 in Sep ’24; 311 in Jan ’24; 319 in Nov ’23)
– Trustpilot: 4.7 (4,980 reviews vs. 4,490 in May ’25; 4,270 in Sep ’24)
5. Capchase
FAB Score = 182 (down 187 since Sep ’24)
– HQ: NYC
– Founded: 2020
Traction:
– Raised: $1.1B (including $110M in 2024, $480M in 2022) (Crunchbase)
– Website visits: 60,000 (SimilarWeb, Aug 2025)
– Employees (Pitchbook): 143 vs 145 in May ’25; 154 in Sep ’24; 152 in Nov ’23; 143 in May ’23
Social:
– LinkedIn: 22,000 followers (105 employees vs. 127 in May ’25; 156 in Nov ’24; 111 in Jan ’24; 147 in Nov ’23)
– Trustpilot: NA
6. Clearco (formerly Clearbanc)
FAB Score = 176 (down 18)
– HQ: Toronto
– Founded: 2015
– Raised: $859M (including $169M in Oct 2023, $17M in 2022) (Crunchbase)
– Valuation: $2.0 billion (based on April 2021 round)
– Website visits: 45,000 (SimilarWeb, Aug 2025)
– Employees (Pitchbook): 166 vs. 171 in May ’25; 315 in Sep ’24 and Nov ’24; 500 in July ’24
– LinkedIn: 47,000 followers (169 employees vs. 179 in May ’25; 172 in Sep ’24; 168 in Jan ’24; 177 in Nov ’23)
– Trustpilot: 4.4 (343 reviews vs 342 in May ’25; 334 Sep ’24)
8. Nav
FAB Score = 146 (up 4)
– HQ: Utah
– Founded: 2012
– Raised: $104M including $5M in July 2025 (Crunchbase)
– Website visits: 810,000 (SimilarWeb, July 2025)
– Employees: 224 (Pitchbook), unchanged since Nov ’23, up 25 since July ’23
– Articles: NA (too many Net Asset Value citations mixed in)
– LinkedIn: 6,000 followers (171 employees vs. 174 in May ’25; 182 in Sep ’24; 222 in Jan ’24; 215 in Nov ’23)
– Trustpilot: 4.5 (476 reviews vs. 398 in May ’25; 350 in Sep ’24)
9. Pipe
FAB Score = 102 (up 38)
– HQ: Miami
– Founded: 2019
– Raised: $423M (including $100M in 2024, $300M in 2021, $7M in 2022) (Crunchbase)
– Valuation: $2B (based on March 2022 round) but has fallen to $200 million based on reported secondary transactions (July 2025)
– Website visits: 82,000 (SimilarWeb, Aug 2025)
– Employees (Pitchbook): 80 vs 198 May ’25 through July ’23
– Linkedin: 28,000 followers | 461 employees (was 385 in May ’25; 341 in Sep ’24; 378 Jan ’24; 295 Nov ’23)
– Trustpilot: NA
10. Fundbox
FAB Score = 90 (down 7)
– HQ: SF
– Founded: 2013
– Raised: $554M including $100M in 2021 (Crunchbase)
– Website visitors: 115,000 (Aug 2025, SimilarWeb)
– Employees: 250 (Pitchbook): 250 unchanged since May ’25; 201 in Jan ’24 & Nov ’23; 275 in July ’23
– Articles: 117 (Crunchbase)
– LinkedIn: 22,000 followers | 197 employees (172 May ’25; 169 in Sep. 24, 171 Jan ’24, 184 Nov ’23)
– Trustpilot: 4.8| 4,180 (vs 4,000 in May ’25; 3,840 in Sep ’24)
11. Lighter Capital
FAB Score = 85 (unchanged)
– HQ: Seattle
– Founded: 2010
– Raised: $246M including $130M in Aug 2023 & $100M in 2021 (Crunchbase)
– Website visitors: 42,000 (Aug 2025; SimilarWeb)
– Employees: 41 (Pitchbook) | was 46 in Sep ’24 and July ’23
– Articles: 116 (Crunchbase)
– Linkedin: 20,000 followers | 43 employees (was 40 Sep ’24; 44 Jan. ’24; 45 Nov ’23)
– Trustpilot: NA
12. Biz2Credit
FAB Score = 76 (down 7)
– HQ: NYC
– Founded: 2007
– Raised: $387M prior to 2021 (Crunchbase)
– Website visits: 170,000 (Aug 2025; SimilarWeb)
– Employees: 750 (Pitchbook), unchanged since since July ’23
– Citations: 165 (Crunchbase)
– Linkedin: 75,000 followers | 595 employees (was 625 in Sep ’24, 685 Jan ’24, 660 Nov ’23)
– Trustpilot: 4.7 (15,200 reviews, up 100 since Sep ’24)
14. Arc
Fab score = 31 (down 86)
– HQ: San Francisco
– Founded: 2021
– Raised: $181M in 2022 (Crunchbase)
– Website visits: 51,000 (Aug 2025; SimilarWeb)
– Employees: 45 (Pitchbook), unchanged since Nov ’23
– Articles: 2 (Crunchbase)
– Linkedin: 13,000 followers (214 employees, down 108 since Sep ’24, up 82 since Jan ’24, up 104 since Nov ’23)
15. Lendistry
FAB Score = 29 (down 26)
– HQ: Brea, CA
– Founded: 2015
– Raised: $130M including $30M in Sep 2025; $5M in 2024; $90M in 2022 & $3.3M in 2023 (Crunchbase)
– Website visits: 56,000 (Aug 2025; SimilarWeb)
– Employees: 337 (Linkedin), down 15 since Nov
– Articles: 32 (Crunchbase)
– Linkedin: 15,000 followers | 290 employees (was 309 Sep ’24; 337 Jan ’24, 352 Nov ’23)
– BBB: 4.6 (95 reviews)
16. Fundera (acquired by NerdWallet in Nov 2020)
FAB Score = 22 (down 15)
– HQ: NYC
– Founded: 2013
– Raised: $18.9M prior to 2021 (Crunchbase)
– Website visitors: 100,000 (Aug 2025, SimilarWeb)
– Employees: 57 (Pitchbook) (down 30 since Jan ’24, down 30 since Nov. ’23
– Articles: 66 (Crunchbase)
– Linkedin: 7,000 followers | 59 employees (was 58 in Sep ’24; 57 Jan ’24, 56 Nov ’23)
– Trustpilot: 4.3 (978 reviews, up 11 since Sep ’24)
16. Camino Financial
FAB Score = 22 (down 62)
– HQ: LA
– Founded: 2014
– Raised: $170M including $150M in 2022 (Crunchbase)
– Website visits: 2,200 (Aug 2025; SimilarWeb)
– Employees: 103 (Pitchbook) | was 103 Sep ’24; 118 Jan ’24; 124 Nov ’23, 134 July ’23
– Articles: 27 (Crunchbase)
– Linkedin: 14,000 followers : 56 employees (was 79 Sep ’24; 115 Jan ’24; 121 Nov ’23)
– Trustpilot: 4.1 (124 reviews, unchanged since Sep ’24)
16. Honeycomb Credit
FAB Score = 22 (up 10)
– HQ: Pittsburgh
– Founded: 2017
– Raised: $32M including $11.5M in Mar 2025; $6M in 2024; $1.9M in 2021 & $8.8M in 2022 (Crunchbase)
– Website visitors: 46,000 (Aug 2025; SimilarWeb)
– Employees: 45 (Pitchbook), up 12 since Jan ’24, up 11 since July ’23
– Articles: 33 (Crunchbase)
– Linkedin: 4,000 followers | 45 employees (45 in Sep ’24; 37 Jan ’24; 35 Nov ’23)
– Trustpilot: 4.6 (95 reviews, up 10 since Sep)
16. Novel Partners
FAB Score = 22 (down 39)
– Founded: 2018
– HQ: Overland Park, KS
– Raised: $130M including $15M in 2024, $115M in 2022 (Crunchbase)
– Website traffic: 4,500 (SimilarWeb, Aug 2025)
– Employees: 72 (Linkedin)
– Article citations: 11 (Crunchbase)
– Linkedin: 4,000 followers | 48 employees (was 72 in Sep ’24; 37 Jan ’24, 34 Nov ’23
20. Credibly
FAB Score = 21 (down 8)
– HQ: Detroit
– Founded: 2010
– Raised: $82M including $5M in Aug 2023 (Crunchbase)
– Website visits: 71,000 (Aug 2025; SimilarWeb)
– Employees: 171 (Pitchbook), up 4 since Jan ’24, up 8 since Nov. ’23
– Articles: 16 (Crunchbase)
– Linkedin: 15,000 followers | 180 employees (174 in Sep ’24; 166 Jan ’24; 171 Nov ’23)
– Trustpilot: 4.8 | 2,140 reviews (up 230 since Sep ’24)
20. BriteCap (was ForwardLine)
FAB Score = 21 (up 21)
– HQ: LA
– Founded: 2003
– Raised: $120M before 2020 (Crunchbase)
– Website visits: 26,000 (Aug 2025; SimilarWeb)
– Employees: 86 (Pitchbook) | was 75 Sep ’24; 65 Jan ’24; 67 Nov. ’23
– Articles: 2 (Crunchbase)
– Linkedin: 4,000 followers | 90 employees (was 75 Sep ’24; 70 in Jan ’24, 69 Nov ’23)
– Trustpilot: 4.6 | 646 reviews (was 561 Sep ’24; 459 Jan ’24)
22. BizFI (acquired by World Business Lenders 2017)
FAB Score = 20 (up 7)
– HQ: NYC
– Founded: 2005
– Raised: $160M prior to 2017 (Crunchbase)
– Website visits: 1,500 (Aug 2025; Similarweb)
– Employees: 28 (Linkedin)
– Citations: 207 (Crunchbase)
– Linkedin: 1,200 followers | 28 employees (was 28 in Sep ’24; 30 Jan ’24; 31 Nov ’23)
– Trustpilot: 1.1 (442 reviews, up 2 since Sep)
23. IOU Financial
FAB Score = 18 (up 1)
– HQ: Atlanta
– Founded: 2011
– Raised: $138M (including $200k in 2021) (Crunchbase)
– Market cap: $22M (19 July 2023), up $9M since 16 May 2023 (taken private in Sep 2023)
– $1.5B originated since inception (per company, Feb 2024)
– Website visits: 10,000 (Aug 2025; SimilarWeb)
– Employees: 105 (Pitchbook), up 2 since Jan ’24, up 20 since July ’23
– Articles: 17 (Crunchbase)
– LinkedIn: 4,000 followers | 109 employees (was 106 in Sep ’24; 103 Jan ’24; 103 Nov ’23)
– Trustpilot: 4.9 (879 reviews, up 87 since Sep)
24. Patch Lending (formerly Patch of Land; acquired by Cloverhill July 2021; appears shut down as of 27 Feb. 2025)
FAB Score = 11 (up 1)
– HQ: LA
– Founded: 2013
– Raised: $54.9M prior to 2018 (Crunchbase)
– Website visits: 23,000 (Jan 2025, SEMRush)
– Employees: 46 (Pitchbook)
– Articles: 36 (Crunchbase)
– Linkedin: NA (in Sep ’24 was 4,200 followers with 18 employees, down 3 since Jan ’24, down 4 since Nov ’23)
– Trustpilot: 4.1 (29 reviews, unchanged since Nov ’23)
25. SMBX
FAB Score = 10 (unchanged)
– HQ: SF
– Founded: 2016
– Raised: $15.2M including $11.5M in 2021 (Crunchbase)
– Website visitors: 26,000 (Aug 2025; SimilarWeb)
– Employees: 35 (Linkedin)
– Articles: 16 (Crunchbase)
– Linkedin: 3,100 followers | 24 employees (was 31 in Sep ’24; 35 Jan ’24; 35 Nov. ’23)
– Trustpilot: NA
26. Revenued
Fab Score = 8 (down 1)
– HQ: New Jersey
– Founded: 2015
– Raised: Unknown (Crunchbase)
– Website visits: 120,000 (Aug 2025, Similarweb)
– Employees:
– Articles: 7 (Crunchbase)
– Linkedin: 2,000 followers | 28 employees (was 27 Sep ’24; 29 in Jan. ’24)
– TrustPilot: 4.7 | 899 reviews (up 124 since Jan ’24)
29. SmartBiz Loans (formerly BillFloat)
FAB Score = 7 (up 2)
– HQ: SF
– Founded: 2009 (originally as BillFloat)
– Raised: $37M prior to 2014 (Crunchbase)
– Website visits: 2,300 (Aug 2025; SimilarWeb)
– Employees: 226 (Pitchbook), unchanged since March ’24
– Articles: 15 (Crunchbase)
– Linkedin: 7,000 followers | 199 employees (was 208 in Sep ’24; 251 in Jan ’24; 251 Nov ’23)
– Trustpilot: 4.6 | 16,400 reviews (unchanged since Sep ’24)
29. Upright (was Fund that Flip)
FAB Score = 7 (down 4)
– HQ: NYC
– Founded: 2014
– Raised: $33M including $20M in 2021 (Crunchbase)
– Website visits: 8,600 (Aug 2025; SimilarWeb)
– Employees: 101 (Pitchbook) | 101 Sep ’24; 207 Jan ’24; 206 July ’23
– Articles: 19 (Crunchbase)
– Linkedin: 5,400 followers | 90 employees (was 104 in Sep ’24; 150 in Jan ’24; 204 Nov ’23)
– Trustpilot: NA (2 reviews)
34. SnapCap (division of LendingTree)
FAB Score = 3 (up 3)
– HQ: Charleston, SC
– Founded: 2012
– Raised: INA (Crunchbase)
– Website visits: 10,000 (Aug 2025; SimilarWeb)
– Employees: 24 (Pitchbook) | was 23 in Sep ’24; 23 in Nov. ’23; 26 July ’23
– Articles: 2 (Crunchbase)
– Linkedin: 3,000 followers | 24 employees (was 25 in Sep ’24; 22 Jan ’24, 21 Nov ’23)
– Trustpilot: 4.8 | 807 (up 35 since Sep ’24)
35. Salaryo (acquired by Meitav Investment House in 2022)
FAB Score = 2 (down 2)
– HQ: NYC
– Founded: 2017
– Raised: $12.1M prior to 2021 (Crunchbase)
– Website visits: 1,000 (Aug 2025; SEMrush)
– Employees: 11 (Pitchbook), unchanged since Nov ’23
– Articles: 20 (Crunchbase)
– Linkedin: 1,400 followers | 9 employees (unchanged since Jan ’24, down 2 since Nov ’23)
– Trustpilot: NA
Defunct
Kabbage (acquired by American Express)
No longer operated as a separate brand (June 2023)
– HQ: Atlanta
– Founded: 2008
– Raised: $2.5B (Crunchbase)
– Website visits: 3,000 (SimilarWeb, May ’23)
– Employees: 255 (Pitchbook, Nov ’23)
– Articles: 614 (Crunchbase)
– Linkedin: 41,000 followers (172 employees, Nov ’23)
– Trustpilot: 2.8 (6,780 reviews through Jan 2023, new info no longer available)
Lendvo (taken off list Feb 2023)
FAB Score = 0 (down 1)
– HQ: Washington DC
– Founded: 2015
– Raised: $1.3M prior to 2016 (Crunchbase)
– Website visitors: INA (Dec 2022; SEMRush)
– Employees: 2 (Pitchbook)
– Articles: 0 (Crunchbase)
– Linkedin: 59 followers (no employees linked)
– Trustpilot: NA
P2Binvestor (acquired by Aion, no website update since 2020, removed from list Nov 2023)
FAB Score = 2 (unchanged)
– HQ: Denver
– Founded: 2012
– Raised: $33.3M prior to 2019 (Crunchbase)
– Website visits: INA (Oct 2023; SEMRush)
– Employees: 11 (Pitchbook), unchanged
– Articles: 25 (Crunchbase)
– Linkedin: 910 followers (2 employees, unchanged)
– Trustpilot: NA
Nuula (acquired by NAV Jan 2023), removed from list Nov 2023)
FAB Score = 66 (unchanged)
– HQ: Toronto
– Founded: 2020
– Raised: $120M in 2021 (Crunchbase)
– Website visits: INA (redirects to NAV)
– Employees: 100 (Pitchbook), up 76 since July
– Articles: 23 (Crunchbase)
– Linkedin: 4,900 followers (8 employees, down 3)
– Trustpilot: NA
