Monday, July 8, 2013
Zebit Gets $30M in Debt Funding For Expansion
San Diego-based Global Analytics, the operator of Zebit, a developer of lending and underwriting software, has raised $30M in a term debt facility, the company said Monday. The funding came from Crystal Financial LLC. According to the company, the new funding brings its total raised to $95M.
Zebit develops software used by banks for underwriting loans; the company said its customers use its products to offer up short term loans, lines of credit, and secured and unsecured credit. Zebit currently operates a lending business in the UK, with plans to expand into other markets. Zebit said its products help "bridge the gap between payday loans and traditional bank credit." Zebit was advised by Stephens Inc. in the financing.
Zebit is venture backed by Mohr Davidow, Crosslink Capital, Leapfrog Ventures, and QED Investors. The firm last raised funding in May of last year, when it raised $25M in venture funding.