JUDI.AI Secures $2.5 Million of Debt and Equity Financing
Vancouver, B.C., Canada – November 13, 2020: JUDI.AI (“JUDI”), a financial technology company which provides a cutting-edge small business lending analytics platform to SME lenders in Canada and the United States, has closed a $2.5 million financing led by Vancouver based CleanFin Capital (“CleanFin”) and supported by Toronto based FirePower Capital (“FirePower). Gord Baizley, JUDI’s CEO, also participated in the transaction. Provisions are in place for an additional $2.5 million from CleanFin, for a total of up to $5 million.
“We are extremely excited to be partnering with JUDI and its experienced management team,” said Nick Andrews, Managing Partner at CleanFin. “The Company is perfectly positioned to serve an extremely important function through our current challenges. Small business credit will be difficult but critical to manage as we navigate this economic shock and recovery. JUDI’s solution helps lenders digitize extremely quickly, and to automate their underwriting function, and provides the real-time radar they need to effectively serve the massive and poorly serviced small business market.”
JUDI’s small business lending analytics platform uses real-time cash flow data to automate lending decisions, monitor loan performance, and provide powerful portfolio analytics.
“As a lender ourselves, we completely understand JUDI’s value proposition and vision,” said Jared Kalish, a partner at FirePower. “For small loans, old credit models don’t measure up to those that ingest real-time data. Real-time data is no longer optional, it’s table stakes.”
“We are thrilled to be partnering with the combination of capital, financial expertise, and operational experience that CleanFin and FirePower bring,” said Gord Baizley, CEO of JUDI.AI. “Demand for our platform – in particular real-time monitoring – is exploding. Small business lending is hard in any environment, let alone the current one. But it is a massive opportunity – 50% of working Americans are employed by small businesses – with significant unmet demand. Our platform breaks down the barriers for lenders to access and monetize that opportunity profitably.”
About JUDI.AI: JUDI.AI is a financial technology company based in Vancouver, Canada. Backed by powerful machine learning technology, the Company’s small business lending analytics platform provides traditional lenders with the technology and real-time analytics that fintech and large technology lenders are armed with. The platform drives efficiency, reduces risk, and improves customer experience.
About CleanFin Capital: CleanFin Capital is a theme-based investor focussed on clean technology and financial technology companies. CleanFin’s partners are experienced investment professionals and highly successful operators and executives. For more information please visit www.cleanfincapital.com.
About Firepower Capital: Based in Toronto and Montreal, with over 35 professionals, FirePower Capital invests in, lends to and advises Canada’s entrepreneurs by helping them complete mission-critical transactions. For more information please visit www.firepowercapital.com.