May 6

Line Acquires $25 Million in Equity, Debt to Build Inclusive Financial System

By Omar Faridi

Line, the firm building a “modern” inclusive financial network, announced that it has secured $25 million in equity and debt, with Massive leading the funding round.

As mentioned in an update shared with CI, Line is a Public Benefit Corporation mission-driven “to deliver unprecedented access to financial services with uncompromising quality and without restrictions like income type, income level or credit history.”

As noted in the announcement, the long-term vision is “an inclusive, interoperable financial network that replaces today’s fragmented mess that either forces folks who can least afford it to subsidize the ecosystem’s inefficiencies with fees and higher interest rates, or simply blocks them from access to products for not fitting outdated criteria.”

Photo courtesy of Wonderlane.

Source: Crowdfund Insider (link opens in a new window)

financial inclusion