Edmonton, Alberta – Feb 1, 2023
Sprout Fund has completed its sixth investment from Sprout Fund II into Vancouver-based, Levr.ai, a fintech startup transforming the way businesses access and manage loans. The company successfully raised $1 million in pre-seed financing, co-led by Sprout Fund II.
Levr.ai (www.levr.ai), founded in 2021, is an intelligent loans platform that makes the process of finding, applying for, and managing business loans easy. By connecting to a business’s accounting software and bank accounts, Levr is able to determine and show loan options they may qualify for. Using machine learning, its able to pre-qualify loans, automate the loan application process and the ongoing management of those loans. As a result, the company has built partnerships with a network of financial institutions that are excited to advance loans through the Levr.ai unified platform.
“Levr.ai has already successfully processed over $2.5 millions of dollars in loans through the platform,” stated Kaylan Pepin, Founder and CEO of Levr.ai. Financing from this round will be used to aggressively market the platform to business customers, grow our lender partnerships and build valuable features asked for by customers. “We’re proud to be partnering with Sprout Fund, one of the leading VCs in Canadian tech. While every startup knows the power of capital to grow, it’s even more important to work with investors who are passionate about your mission,” he added.
More than a third of the 34 million businesses in North America seek debt financing each year, a process that is both time consuming, error prone and highly inefficient. “This is a market that is ripe for modernization and we are excited to back such a solid team with more than a decade of experience in commercial lending and partnerships from RBC, CIBC and BDC, as well as expertise in machine learning and artificial intelligence. Additionally hiring for key roles with early employees from Shopify and Wave Accounting,” stated Mark Benning, Partner at Sprout Fund.
About Sprout Fund
Seed stage venture and mentor capital to accelerate the growth of Western Canadian B2B software startups… that’s what we provide. We recognize that the most successful founding teams, building the most globally relevant companies, demonstrate a unique blend of hustle and diversity. In addition to active mentorship, our additional value-add comes from the diversity of our investment team and investor pool that are all successful entrepreneurs in industries ranging from crypto to real estate and from ed-tech to energy. If you are a great early-stage founder building a globally relevant B2B startup that has initial market traction, reach out to us at info@sproutfund.vc.