Digital loan marketplace and analytics provider accelerates expansion to meet demands of new partnerships and network growth
Community Capital Technology Inc., an enterprise loan marketplace and analytics platform, announced it has secured an investment from the BHB Fund, a venture capital fund “for community banks, by community banks.” The BHB Fund is managed by Latitude38 Venture Partners, in partnership with the Independent Bankers Association of Texas (IBAT) and FedFis, and joins several other experienced Fintech investors in this investment round.
The Company will deploy the funding to evolve its technology platform and expand operational teams – all with a focus on launching and scaling new strategic partnerships and reinforcing the firm’s leadership in modernizing the secondary loan market.
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Garrett Smith, Community Capital’s Founder and CEO, said, “We are exceptionally pleased to have the BHB Fund investing. Given their parterships with community banks, focus on financing technology solutions for these institutions, and collective Fintech experience, the confidence they have placed in us affirms our value proposition. This capital endorsement highlights that our platform is the preferred liquidity management solution for community financial institutions.”
The funding announcement comes as the Company has cemented two significant new partnerships in 2023. With these large-scale relationships, Community Capital will soon provide access to nearly 1,800 financial institutions nationwide. Today, the peer-to-peer loan marketplace has over $1.1 billion in active, proprietary deal flow, and supports the balance sheet optimization needs of a diverse network of loan originators and capital partners, including regional banks, community banks, credit unions, RIAs, and direct lenders, along with service and technology providers that support these institutions.
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“Our core investment principles are embodied by Community Capital. The technology platform is transforming the way financial institutions manage balance sheet risk and return, delivering actionable intelligence and insights to participants, along with significant process efficiencies to secondary loan market transactions. There is strong industry demand for this solution, and we are proud to contribute to the next stage of the Company’s growth as it scales its bank network, product, and team,” said Richard Leggett, BHB Fund Managing Partner.
Neeraj Vohra, BHB Fund Managing Partner added, “Our Team has successfully backed a number of Fintech companies and we are impressed with the product and organization that Community Capital has built. Their rapid growth and adoption by community-focused financial institutions across the country reflects the increasing demand for the tools, transparency, and access to streamline loan transactions. We anticipate great things ahead, and are excited to support the Company as they continue to deploy and grow strategic partnerships across the U.S.”
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