Noble, a Tel Aviv, Israel-based platform that allows businesses to construct credit-based products with no-code tools, emerged from stealth and acquired $15 million in Series A funding, bringing its total to $18 million.
The round was led by Insight Partners, with participation from Cross River Digital Ventures, Plug & Play Ventures, Y Combinator, Flexport Fund, TLV Partners, Operator Partners, Verissimo Ventures, Interplay Ventures, and the George Kaiser Family Foundation.
The fresh capital will go toward creating a new office and extending Noble's portfolio to cover more use cases.
"There are simply too many challenges that companies face when looking to build credit products, including compliance, debt funding, and underwriting," Tomer Biger, Co-Founder & CEO of Noble, said. "Noble's mission is to remove these barriers and enable the inevitable movement of lending experiences from offline to online in the same way that payment processing platforms built the new payment rails that enabled the explosive growth in online payments witnessed over the past decade."
Noble allows clients to connect data sources to create custom credit offerings, providing a rules-based engine to edit and launch credit models.
Company: Benga Inc.
Raised: $15.0M
Round: Series A
Funding Month: September 2022
Lead Investors: Insight Partners
Additional Investors: Cross River Digital Ventures, Plug & Play Ventures, Y Combinator, Flexport Fund, TLV Partners, Operator Partners, Verissimo Ventures, Interplay Ventures, and the George Kaiser Family Foundation
Company Website: https://www.benoble.io/
Software Category: Financial Software
About the Company: Founded in 2021 by Tomer Biger and Moran Mishan, Noble is a no-code platform that allows companies to build, launch, and scale custom credit solutions by providing a complete infrastructure to assess their business customers' creditworthiness. Using Noble, companies may access credit bureaus, banks, and income verification providers. Noble works in various lending spaces, helping companies assess the creditworthiness of their customers for multiple use cases like credit cards, credit line assignments, and BNPL offerings.
Source: https://techcrunch.com/2022/09/21/noble-emerges-from-stealth-to-help-companies-extend-lines-of-credit-to-their-customers/