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Asenso

The Working Capital Marketplace for Small Businesses

Pitch Video
Investor Panel

Highlights

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🏦 Signed $50,000,000 loans processing deal to provide small businesses with working capital
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🏆 Built by the award winning team of the FDIC's tech sprint to reach unbanked communities
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🚀 Founders with track record of success including multiple exits
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🔥 Partner of the LAEDC's Coalition to win the U.S. EDA's $1B Build Back Better Regional Challenge
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đź’¸ 1 of 56 startups out of +1,500 applicants selected to participate in Mercury Bank's Raise Program
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đź’Ş Led by a seasoned team with expertise in technology, banking, and social impact
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🌎 Addresses a $73B underserved market
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🌟 Backed by Talino Venture Labs, the award-winning global fintech venture studio

Our Team

Small businesses are the backbone of the American economy, so we need to be there to support them when they need it most. We believe our expertise in banking, technology and operations will allow for more small businesses to get the capital they need and for community banks/CDFIs to be there to help.

Asenso is THE Working Capital Marketplace for American small businesses.

Did you know that at least 1 of 4, or at least 27%, of small business loans are unfunded or underfunded?

That's at least 7.3 million loan applications unfulfilled, which means at least 7.3 million small businesses do not get the support they need to grow and serve their communities.

And when you consider the average loan size of small businesses--$10,000--that means America has a working capital cap of at least $73 billion. 

The other problem is that while community banks and CDFIs are on the ground in our communities connecting with small businesses, they often do not have the technology, capacity, or risk appetite to meet the huge demand for SMB working capital. Lending to small businesses is often deemed to be too laborious, too inefficient, too risky. To some, it's simply not worth the time.

So who's going to look out for small businesses in America?

That’s where Asenso comes in.

Asenso is the Working Capital Marketplace for small businesses, bridging SMBs to affordable working capital that meets their unique requirements. 

Our solution at Asenso is simple: 

  • We work with community banks and CDFIs to offer a wide variety of small business loans under a single (digital) roof
  • We use our proprietary tech stack to perform underwriting, identity verification, credit check, risk and compliance, document generation, reports generation, and disbursement between the CDFIs and the model
  • We provide credit risk rating, to give you a greater chance of being matched with an appropriate loan product
  • You get the comfort and convenience of knowing you've got a partner who can back you up when you need it most. 

Through our team's Technology and Operations solutions, Asenso manages the "legwork" of the loan process–all the way from underwriting to disbursement–to lower the cost of processing and servicing loans, therefore allowing our partner community banks and CDFIs to offer lower-interest loans to the small business owners that need them most.

Our Secret Sauce

Our credit rating system matches borrowers with the best funding options available. This reduces the risk for lenders and lowers the cost for borrowers.

Our Revenue

Now for the good news: we’ve already gotten started. We've deployed technology for our first CDFI client in Q4 2021.

Our pipeline is rapidly growing, and Asenso is ready to scale to empower more small businesses in their pursuit of capital like never before.

Our Team

Asenso is led by a diverse and inclusive team of global professionals with venture capital, serial entrepreneurship, banking & finance, public policy, social impact, and emerging market experience.

We operate between the U.S. and Asian corridors, giving us access to great talent and diverse perspectives from different parts of the world. 

Overview