Corl Announces $20 Million USD Financing From NAOS Finance for Growth of Its Capital-as-a-Service Platform
LEWES, Del., March 14, 2022 (Newswire.com) - NAOS Finance announced today that it provided Corl Financial Investments Inc., an AI-powered investment platform for tech-enabled businesses, with $20 million USD in growth capital. Corl will use this to finance high-growth companies with revenue-based financing through its innovative Capital-as-a-Service (CaaS) platform.
"What we are seeing right now are high-growth companies looking for alternative funding methods that won't create dilution," said Corl CEO Derek Manuge. "Our partnership with NAOS Finance allows us to access permissionless capital without the operational overhead and restrictions associated with the traditional banking system."
Corl's approach to funding is unique to the market. Companies apply online and connect their accounting platforms and bank accounts to Corl's CaaS platform. Their platform uses thousands of data points and AI to predict the probability of successful of a business in as little as 10 minutes. When approved for funding, capital is made available to the business in as little as 24 hours, eliminating the lengthy due diligence and fundraising process that is typical for venture-backed businesses. With revenue-based financing, both Corl and the business share in the success created by the new capital. The repayment structure is more flexible than traditional loans and won't dilute the business, providing companies with the opportunity to keep their equity and control.
"We're thrilled to partner with Corl to provide alternative financing solutions for startups globally. NAOS and Corl have a shared vision that businesses should not have to undergo the lengthy funding process required by the existing financial establishments," noted Kevin Tseng, Founder of NAOS Finance. "We believe decentralized finance (DeFi) will quickly become the preferred intermediary between businesses and capital; we're excited to have Corl joining the NAOS ecosystem to scale real-world assets on-chain."
"Partnering with NAOS Finance was a great fit. We have tremendous appreciation for their team and partners, as well as a shared vision of bringing transparency and speed to our partners through DeFi technologies. We're looking forward to an ongoing relationship with them," concluded Manuge.
About NAOS Finance:
NAOS Finance is a decentralized real-world asset (RWA) lending protocol that facilitates the borrowing of crypto native assets by using RWA as collateral. NAOS has established a large network of corporate borrowers and is operating with financing licenses in multiple regions. In the effort of connecting CeFi with DeFi, NAOS takes an ecosystem approach and looks to engage in meaningful strategic partnerships to expand the boundary of decentralized finance.
About Corl:
Corl was founded in 2019 with the belief that businesses should have access to capital that won't hinder their growth with fixed payments, high royalties, or equity dilution. Corl funds the digital economy with Capital-as-a-Service ("CaaS"), where Corl shares in revenue in exchange for growth capital. Their AI technology allows them to streamline the financing process and properly price the risk by evaluating a business' operational and financial data in as little as 10 minutes. The result has led to over $35M in capital investments that are fast, fair, and flexible. Learn more at Corl.io.
Media Contact:
Mike Magnacca
VP of Marketing at Corl
mmagnacca@corl.io
Source: Corl