Lendio Makes Strategic Move to Position the Brand for Growth, Strengthens Product Portfolio for Small Businesses

Leading fintech company removes the “Sunrise by Lendio” brand, merges its free tools and enhanced SaaS subscription with its popular loan marketplace

LEHI, Utah--(BUSINESS WIRE)--Lendio, the nation's leading small business financial solutions provider, today announced the next phase of its brand and business evolution. The growing fintech company has sunset its Sunrise by Lendio brand – which includes a robust set of accounting, invoicing and expense tracking tools – by integrating its data insights access with Lendio’s small business loan marketplace. This integration will better serve the fluctuating needs of small business owners in America.

”If there is anything we have learned during the pandemic, it’s that the needs of small business owners can shift dramatically in an instant. By bringing Sunrise’s features under the umbrella of Lendio, we’re able to give access to our small business lending marketplace and offer our automated cash management tools all in one place,” said Brock Blake, CEO of Lendio. “This integration will help small business owners automate the management of their invoices, expenses, and cash flow, which can be some of the most challenging pain points they face.”

This evolution signals Lendio’s ongoing commitment to ensuring that small businesses owners have access to capital and the software solutions they need to ensure the survival of their business.

Lendio’s Five New Features Automate Invoicing to Get Paid Fast

In conjunction with this brand update, Lendio has announced five new features built to make the invoicing process simpler through automation. The invoicing features, available now on the Lendio platform and in the mobile app (Lendio Invoicing & Expenses), include the following:

1. Low fee payment processing, including 2.55% for credit cards and .5% for ACH transfers (below industry average)
2. Automatic reminders and scheduled late fees for your customer’s overdue invoices
3. The ability to add gratuity/tips on all invoices
4. New templates, including smart fields to auto-fill basic message information
5. Email integration with popular providers including Gmail, Outlook and Yahoo

“When it comes to running a small business, invoicing time should be an exciting time – not a stressful one,” said Ben Davis, President and CRO of Lendio. “With the addition of these new features, small businesses will have the ability to tailor the invoicing process to what works best for them and their current business needs.”

“Not many people know this, but the majority of employees here at Lendio are connected to small business in some way, whether they owned a small business in the past, still do, or have a close family member who does,” added Blake. “So not only are we dedicated to evolving over time to meet the needs of the small business owners we serve, but we are also over here cheering them all on from our desks! Their success is our success.”

About Lendio

Lendio is the nation’s leading small business financial solutions provider. With its diverse network of lenders, Lendio enables small business owners to apply for multiple business financing options with a single application. The company has facilitated more than 330,000 small business loans for more than $12 billion in total funding, including $9.8 billion in PPP loan approvals as part of government COVID-19 relief. As the first financial services business to successfully incorporate artificial intelligence (AI) into small business lending with its AXIS tool, Lendio has become the fintech company to watch in the industry, helping reduce bias in lending and cut back on loan approval time exponentially. In addition to creating access to small business capital, Lendio offers time-saving financial SaaS products designed to streamline business operations. Lendio is a values-driven organization striving to provide equal access to capital to underserved communities and America’s smallest businesses. For every new marketplace loan Lendio facilitates, Lendio Gives—an employee-contribution and employer-matching fund—provides a microloan to low-income entrepreneurs around the world. In addition, Lendio ranks on Fortune’s Best Workplaces in Financial Services & Insurance and Inc.’s Best Workplaces three years in a row. More information about Lendio is available at www.lendio.com