Overview

Lendtable helps employees increase their long-term wealth by offering lines of credit specifically for retirement contributions and employee stock purchase plans (ESPP). The service allows employees to contribute to their 401(k) plans or ESPPs without affecting their take-home pay, as Lendtable provides the necessary funds upfront. This enables employees to take full advantage of employer matching contributions or stock purchase discounts, significantly enhancing their retirement savings over time. The application process is simple, requiring basic personal information and a pay stub, and once approved, funds are sent directly to the employee's retirement or stock purchase plan. Lendtable earns revenue by charging fees on the credit extended, creating a mutually beneficial model where employees can maximize their savings without impacting their monthly budget. The company's goal is to empower employees of large organizations to build their wealth through better retirement planning.

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

$22.5M

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

$100M

View all funding stages