Overview

Lendtable helps employees increase their retirement savings by offering lines of credit specifically for 401(k) and employee stock purchase plans (ESPP). This service allows employees to make contributions without reducing their take-home pay, as Lendtable provides the funds upfront. The application process is quick and straightforward, and Lendtable generates revenue through fees on the credit extended. The company's goal is to enable employees to maximize their retirement benefits while maintaining their monthly budget.

Simplify's Take

What believers are saying

• Increased employer interest in financial wellness boosts demand for Lendtable's services.
• SECURE 2.0 Act encourages higher retirement savings, benefiting Lendtable.
• Growing ESPP offerings align with Lendtable's focus on stock purchase plans.

What critics are saying

• Rising interest rates may increase Lendtable's cost of capital.
• Increased competition from fintech startups could erode Lendtable's market share.
• Regulatory scrutiny on retirement-focused financial products could impact Lendtable.

What makes Lendtable unique

• Lendtable offers unique credit lines for 401(k) and ESPP contributions.
• The company targets employees of Fortune 500 companies for its services.
• Lendtable's model allows wealth-building without reducing take-home pay.

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Funding

Total Funding

$23.2M

Above

Industry Average

Funded Over

2 Rounds

Notable Investors:

Y Combinator

Notable Investors:

Y Combinator

$18,000,000

Series A

Nov 2021

Series A funding typically happens when a startup has a product and some customers, and now needs funding to scale. This money is usually used to grow the team, expand marketing, and improve the product. Venture capital firms are frequently the main investors here.

Series A Funding Comparison

Above Average

Industry standards

Ind Avg. $15M

$3.7M

$5M

$8.2M

$15M

$18M

$30M

View all funding stages