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Sequoia, Spark help short-term business finance startup Zazma expand with $10m

3 Sep 2013

money dollar lend borrowSequoia Capital and Spark Capital have provided short-term business financing company Zazma with $10m of equity to help continue its expansion.

The business was launched by Sequoia in 2011 to grant small businesses additional credit and flexible repayment rates to pay their suppliers, as traditional lenders are often unwilling or unable to grant sufficient credit to SMEs.

Spark co-founder and general partner Santo Politi said, “Zazma is solving a problem that directly impacts the core of any thriving economy – small businesses.

“With a strong team, unique business model, and innovative analytics, we chose to invest in Zazma because we’re confident that their model will make significant changes to the way small businesses get up and running successfully.”

Zazma co-founder and CEO Benjy Feinberg said, “The financial markets are inefficient, and the traditional modes of financing are needlessly arduous and time consuming.

“Internet and big data analytics are changing the financial world and Zazma is bringing this change to purchase financing by adding value to both small businesses and their suppliers through online, instantaneous approvals, and 100 per cent payment guarantees at fair prices.”

Spark and Sequoia are both investors in photo-blogging website tumblr, which raised $85m in 2011.

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