Our investment in Presta
We are excited to announce that Matchstick Ventures Fund III has completed an investment in Presta. Presta is an end-to-end lending platform that helps financial institutions streamline the lending process so they can spend more time with borrowers and less time on manual, tedious back-end tasks.
Over 5,000 community banks and credit unions around the United States are struggling to serve their customers when it comes to lending. While they have a strong community presence and solid local relationships, they lack the technology it takes to support lending in the modern world. Loan applications are frequently still done with paper, customer databases operate on outdated systems, and they may not even have the ability to support loan servicing online.
Not only does this hold these institutions back with current customers, but it also hurts their efficiency, as loan officers and managers spend more time managing manual administrative and procedural tasks, and less time building relationships. Facing competition from larger institutions with the software to create and support a modern experience, these community banks and institutions are looking for a solution to help them improve their operations.
Presta is just that solution, providing community banks and credit unions the superpowers they’ve been looking for through software. With Presta’s all-in-one lending platform, institutions can accept and process loan applications online, automatically store data in a Presta-powered CRM to manage client relationships, and offer online loan servicing. With their data storage, Presta can also offer reporting and insights to lenders they couldn’t have accessed before with paper applications or other cumbersome reporting products.
Presta is a powerful solution for smaller financial institutions that works right out of the box and is quick to deploy. Presta offers an excellent experience for the end customer and provides tools and support for internal operations and bankers within the institution, giving them back the time they were spending on manual, tedious processes and supporting them in building relationships and being more active with their clients.
We met the founders of Presta through Techstars Boulder and were impressed with their backgrounds in economic development and addressing challenges related to access to capital. We are excited to partner with them as investors on this mission to serve communities and the institutions that power them.
Learn more at:https://www.letspresta.com/