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Levr.ai secures $1 million in additional funding to build AI for small business lending


[VANCOUVER, FEBRUARY 20, 2024] — Levr.ai, the cutting-edge intelligent loans software platform, is proud to announce successfully raising another $1 million in additional funding, building on the momentum of its previously announced funding in 2023. This brings Levr.ai’s total funding to over $2.5 million. The latest investment comes at a crucial time for small businesses, to have innovative debt capital solutions, access to capital for entrepreneurs and control over their business finances.

This seed funding comes by way of follow-on investment from Weave VC and Sprout VC as well as several new investors. The $1 million injection of funds demonstrates investor confidence in Levr.ai’s mission, but also signifies a commitment to empowering small business owners with the financial tools and AI support to thrive in an increasingly challenging economic environment. 

Mark Mitchell, General Partner at Weave VC says “Weave VC has been an early believer in Levr.ai’s mission and team, investing in both its pre-seed and seed rounds. The team continues to deliver innovative products with early market traction for thousands of SMBs, demonstrating the urgent need for Levr.ai in the market. We’re thrilled to continue to back Levr.ai as they make it easy for millions of small businesses across Canada and the United States to get capital they need.”

Levr.ai now powers over 2,000 small businesses across Canada and the US, with 30% of all traffic coming from the US as expansion begins stateside. A free Levr.ai account gives business owners visibility to lending options from over 40 strategic partners. All of these businesses have onboarded to Levr.ai in the last 12 months. This explosive growth highlights the demand for businesses to understand and access capital.

Levr.ai is a game-changer in the world of small business financing poised to take advantage of AI—and be at the forefront of the AI wave. Built on cutting-edge artificial intelligence (AI) and machine learning (ML) algorithms, its proprietary recommendation engine streamlines the lending process making it faster, more accessible and transparent than ever before. 

Key features of Levr.ai’s free intelligent loan platform:

  • AI Smart Decision-Making: Levr.ai utilizes AI to power its advanced algorithms and data analytics to suggest lenders, loan types, and the likelihood of success with each. This enables faster and more accurate borrowing and lending decisions for both SMBs and lenders. 
  • Data based Tailored Funding Solutions: Small businesses can benefit from customized loan packages designed to meet unique needs, while being scanned through 40+ lenders based on their inputs or by connecting accounting and banking data.
  • Automation adds Speed and Efficiency: Levr.ai’s platform expedites the lending application process with AI and APIs autocompleting applications to reduce the time it takes for small businesses to secure funding and put their growth plans into action and reduce friction for financing.

Small businesses continue to grapple with limited access to capital, hindering their growth potential for 2024. According to research published by the Bank Policy Institute (BPI) as of 2021 over 80% of loans are facilitated outside of traditional banks. Kaylan Pepin, co-founder and CEO believes “by harnessing the power of artificial intelligence and data analytics, Levr.ai is empowering entrepreneurs with accessible and tailored funding solutions to drive business growth at a critical time. We are building AI for the small businesses that big banks struggle to service and tech startups often ignore.”

Levr.ai is committed to driving positive change in the small business lending landscape, and the recent $1 million investment positions the company to expand its reach and impact to millions of more businesses in Canada and the US. By providing access to intelligent loans solutions, Levr.ai is empowering small business owners, catalyzing economic growth and fostering a more resilient and dynamic entrepreneurial ecosystem.

To learn more about Levr.ai, visit www.levr.ai or [email protected] to speak to a member of the team.

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