# Backed

**Source:** https://www.startuphub.ai/startups/backed
**Profile type:** Startup

> Online lending platform enabling borrowers to add backers to improve loan terms.

## About

Backed Inc is a US-based online lending platform that aims to make loans more accessible and affordable. It allows borrowers to add a 'backer' (a reinvented co-signer) to their loan application to help them qualify or secure a better interest rate. The company utilizes a patent-pending machine-learning algorithm to assess creditworthiness.

## Key facts

- **Slug:** backed
- **Website:** http://backedinc.com/
- **Location:** New York, United States
- **Founded:** 2014-10-01 00:00:00
- **Employees:** 11
- **Operating status:** Inactive
- **Total funding:** $4M
- **Sectors / tags:** Fintech, Lending, Platform, Online Lending, Personal Loans, Credit Access, Machine Learning, Underwriting, Credit Scoring, Financial Services, Consumer Lending
- **Social:**
  - LinkedIn: https://www.linkedin.com/company/backed-inc-/about/

## Frequently asked

### What does Backed do?

Backed Inc is a US-based online lending platform that aims to make loans more accessible and affordable. It allows borrowers to add a 'backer' (a reinvented co-signer) to their loan application to help them qualify or secure a better interest rate. The company utilizes a patent-pending machine-learning algorithm to assess creditworthiness.

### What is Backed's revenue?

StartupHub estimates Backed's annual revenue at $3.2M (range $2.7M to $3.8M, 63% confidence), based on comparable companies in the sector.

### What is Backed's valuation?

StartupHub estimates Backed's effective valuation at $13.4M (range $8.8M to $21.0M, 10% confidence), based on comparable companies in the sector.

### How much funding has Backed raised?

Backed has raised a total of $4M in funding. The most recent round on record is Series A.

### Where is Backed headquartered?

Backed is headquartered in New York, United States.

### When was Backed founded?

Backed was founded in 2014.

### What industry does Backed operate in?

Backed operates in Fintech, Lending, Platform, Online Lending, Personal Loans, Credit Access.

### How many employees does Backed have?

Backed has approximately 11 people on record.

### What is Backed's current status?

Backed's current operating status is: Inactive.

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