Consumer and small business credit scoring platform, Nav, will now offer its small and medium-sized enterprise customers loans and financing services by Bank of America; Nav uses its MatchFactor algorithm to help show borrowers their chances of approval and have thus far helped to facilitate funding to over 160,000 companies; Nav CEO and Co-Founder Levi King said, "We are proud to partner with Bank of America, giving business owners even more ways to access the financing they need." Source
Nav announced a partnership with Marcus by Goldman Sachs to offer SMB owners lines of credit through machine learning on the platform.
Fintech companies around the world are receiving huge funding rounds at sky high valuations; Goldman Sachs’ Principal Strategic Investments Group...
The acquisition aims to combine the tools of both companies to make a reportedly unique app for small business owners.