Parlay Closes Seed Round and Partners with JAM FINTOP to Transform Small Business and SBA Lending
WASHINGTON--(BUSINESS WIRE)--Parlay Finance, an AI-powered Loan Intelligence System, today announced a $2 million seed funding round led by JAM FINTOP. This capital positions Parlay to continue scaling its technology nationwide, helping community lenders unlock substantial growth in the $1.4 trillion small business lending market.
"By democratizing access to AI-powered technology, Parlay is helping community banks to better compete while advancing their mission to serve local businesses."
Closing the Small Business Lending Gap
While small businesses drive 44% of U.S. GDP, the lending infrastructure serving them remains stuck in the past – until now.
Parlay's Loan Intelligence System (LIS) unlocks legacy bottlenecks that have plagued community lenders for decades. By complementing existing Loan Origination Systems (LOS), the LIS empowers lenders to increase loan volume, improve operational efficiency, and maximize profitability without increasing risk. The platform's capabilities include digital customer onboarding, information verification, and an AI-powered decision management system to streamline processes for Small Business Administration (SBA) loans, which are traditionally complex and costly to underwrite. The LIS expedites eligibility verification and identifies the best-fit loan products for each applicant.
"JAM FINTOP's investment and network of banks creates a powerful multiplier effect for our technology," said Alex McLeod, CEO and co-founder of Parlay. "Through this partnership, we're empowering community lenders nationwide to maintain rigorous underwriting standards while drastically improving operational efficiency and insight. By democratizing access to AI-powered technology, Parlay is helping community banks to better compete while advancing their mission to serve local businesses."
Next-Generation Technology Meets Proven Market Access
This funding comes as Parlay deepens partnerships with several JAM FINTOP Network banks who recognize the platform's value in streamlining SBA processes and increasing operational efficiencies. The capital will accelerate Parlay's mission to democratize access to capital through better lending technology for community banks and credit unions nationwide. The company will expand product development, deepen integrations with existing systems of record, and grow its network of community lenders and mission-driven financial institutions. Stephen Schroder will be joining Parlay's board of directors as the company continues to scale.
'Small business lending represents one of the most compelling growth opportunities for our bank limited partners, yet execution requires the right technology and infrastructure," said Stephen Schroder, Investor at JAM FINTOP. "Parlay has built what our banks need: a system of intelligence that integrates with existing systems of record to deliver substantial improvements in both volume and efficiency. We are confident the team's deep understanding of banking operations and proven ability to execute will drive value for financial institutions nationwide.'
For community lenders ready to capture market share in small business lending, Parlay represents the competitive advantage they have been waiting for.
About Parlay
Parlay Finance is a SaaS-based Loan Intelligence System (LIS) that helps lenders efficiently qualify SBA and small business loan prospects. Their AI-powered platform streamlines digital onboarding, verification, and eligibility assessment while complementing Loan Origination Systems to boost volume and profitability. For more information, visit www.parlay.finance.
About JAM FINTOP
JAM FINTOP is a joint venture between JAM Special Opportunity Ventures and FINTOP Capital. The partnership brings together bank experts and seasoned fintech entrepreneurs to invest in companies changing the way financial institutions and their customers move, track, and interact with money. For more information, visit www.jamfintop.com.
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