$1.3m funding round to help Collateral Velocity expand its fintech platform
Charlotte-based fintech startup Collateral Velocity has raised a new round of funding that it will use to help expand its platform.
The startup announced on Monday that it recently raised a $1.3 million friends and family funding round.
Collateral Velocity, founded in 2018 by Chris Langley, is a business-to-business SaaS platform that offers real-time medical claim valuation and collateralization as part of a committed, secured debt and trade finance solution suite. The overarching goal of the platform is to reduce risk and lower costs in health care.
Nat Clarkson, Collateral Velocity board member, said the new money will be used to expand the platform’s capabilities and will allow the company to launch a new pilot program with a top 10-ranked bank and potentially with a leading asset management company in the U.S.
“They’re going to take that product live and prove that it works,” he said. “In the next few months, they’ll launch that product.”
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