Vine Financial in Austin, Texas, has secured seed funding and created a board of directors.
The fintech, which uses AI tools to make commercial lending faster, more accurate, and more auditable, did not disclose how much money it raised.
The funding will fuel Vine’s growth and expand its ability to provide an alternative to traditional spreadsheets and legacy systems. The company will also expand the platform’s capabilities to improve how banks and credit unions approach commercial real estate, agriculture and other lending products.
Vine’s newly formed board included founders David Eads and John O’Shaughnessy; Charles Potts, executive vice president of innovation at the Independent Community Bankers of America, and investors Neeraj Vohra and Zahid Afzal.
“We’ve carefully assembled this group of investors and board members for their expertise and shared vision for transforming commercial lending,” Eads said in a press release. “Having these industry leaders in our corner gives us an extraordinary advantage as we revolutionize a critical but historically underserved segment of financial services.”