Lendio Inc., the website that helps small businesses find loans, raised $20.5 million in a funding round for expansion.
Runa Capital has supported Lendio since 2013 and also participated in this funding round C.
Lendio is among startups seeking to use technology to make underwriting loans cheaper and faster. OnDeck Capital Inc., a small-business lender, and LendingClub Corp., which mainly arranges consumer loans, went public last year. Lendio doesn’t make loans itself, instead gathering offers and presenting them to potential borrowers.