MeridianLink to acquire small business lending tech provider StreetShares
MeridianLink, an American cloud-based software solutions provider for financial institutions, has agreed to acquire StreetShares, a fintech company that caters to banks and credit unions with digital small business lending technology.
StreetShares is a small business banking software-as-a-service (SaaS) technology company, which was founded in 2014, to serve veteran-owned small businesses as a low-cost, digital lender. It later launched its digital business lending platform to enable credit unions and community banks to make small business loans with a fully digital, omnichannel experience.
Nicolaas Vlok — CEO of MeridianLink said: “StreetShares’ commitment to providing lenders across the U.S. with state-of-the-art business lending capabilities, including business loans, automated decisioning, and business lines of credit, aligns with our focus on empowering more banks and credit unions to better serve consumers and communities.
“Adding the StreetShares team, technology, and strong partnerships with organizations like Fiserv to the MeridianLink family will accelerate our small business lending capabilities and further strengthen our MeridianLink One platform.”
StreetShares had developed the StreetShares Atlas platform, which is said to help credit unions and banks to operate in a fully digital, business lending environment in 45 days or less.
The StreetShares Atlas platform lets community lenders to use data-driven technology to provide their small business customers with a superior digital banking product experience. The platform is also said to specifically address the major challenges in risk assessment and decisioning of small businesses to efficiently meet the financing needs of small businesses.
Mark L. Rockefeller — StreetShares co-founder and CEO said: “StreetShares is thrilled to join forces with the innovators at MeridianLink to better serve America’s main street business owners.”