Los Angeles-based fintech firm Prism has successfully raised $26 million in seed and Series A funding led by Pantera Capital and Human Capital. The company’s innovative lending platform is designed specifically for technology startups and their employees, offering a unique approach to lending against company equity.
Founded by Ari Stiegler (CEO), Noah Friedman (COO), and Ryan Breslow, Prism developed a lending solution that allows employees of pre-IPO companies to leverage their stock for personal use. This can range from a down payment on a home to paying off a personal guarantee debt.
Loans are secured by the equity capital of each borrower, which eliminates the need for a personal guarantee. The company plans to use the funding to accelerate growth, expand operations and expand the scope of its business.
Prism’s loan marketplace technology platform facilitates startups between private equity holders and institutional lenders and is only available to late-stage venture capitalists who partner with the firm.
As Prism continues to grow and innovate in the fintech space, its recent funding round highlights the growing demand for customized lending solutions that meet the unique financial needs of startup employees. This achievement is a testament to the company’s commitment to empowering startups and their employees by giving them access to critical financial resources.
