In a move set to reshape how small businesses access funding, Parlay Finance has announced the close of a $2 million seed funding round.
The investment was led by JAM FINTOP, a fintech focused venture firm known for supporting innovation among community and regional banks.
Parlay Finance is developing a next generation AI driven Loan Intelligence System (LIS) aimed at streamlining the lending process for community banks and credit unions.
$2M Boost for Parlay’s AI Lending Revolution
The platform leverages artificial intelligence to automate borrower assessments, enabling faster loan approvals and expanding access to financing particularly in underserved and rural markets.
“This investment represents a pivotal step toward making small business lending smarter and more inclusive,” said Jay Long, Co-Founder and COO of Parlay. “Our technology is built to help local lenders serve their communities more effectively without increasing operational burdens.”
The backing from JAM FINTOP not only brings capital but also strategic value, offering Parlay access to a robust network of over 90 financial institutions.
Their shared vision is to empower local banks with the tools they need to stay competitive in a rapidly evolving digital landscape.
Proceeds from the seed round will be used to enhance the platform’s AI capabilities, scale development, and expand its footprint with financial institutions across the U.S. Early pilots have already demonstrated strong outcomes, including reduced loan processing times and improved borrower engagement.
As Parlay Finance continues its growth trajectory, it stands at the forefront of a wave of fintech innovation addressing inefficiencies in the estimated $1.4 trillion small business lending market.
