SteelBridge Labs Announces Newest Company to Join the Incubator, Honeycomb Credit
PITTSBURGH, Pa., July 10, 2018 (Newswire.com) - SteelBridge Laboratories, LLC, Co-Founder and Managing Partner, James Haluszczak, announced today that Honeycomb Credit is the newest FinTech company to join The Lab.
Honeycomb Credit is the first FINRA-registered crowdfunding platform that allows locally owned businesses to borrow from their own loyal customers in order to fulfill their business objectives.
Through Honeycomb Credit, small businesses get the fair loans they need to grow their business. Customers of the business get to watch it grow while also earning competitive rates on the money they’ve loaned their favorite local business, and everyone works together to strengthen local communities. This model goes back to the days when local banks went to bat for our local businesses—a banking and business partnership that has trended in the wrong direction. Well, Honeycomb Credit is changing that by bringing the community back to small business lending!
Co-Founder & CEO of Honeycomb Credit, George Cook, states, “Honeycomb Credit is excited to close our $1 million seed round and even more excited about the outstanding roster of investors at the table. These funds will help us continue to expand our reach to help serve more small businesses across Western Pennsylvania and beyond. We are thrilled to have SteelBridge Labs as a partner on this journey. Their experience and knowledge with financial technology will be critical in helping to shape our roadmap in the months and years ahead.”
SteelBridge Labs (The Lab) invests in pre- or early-revenue FinTech companies. The Lab provides FinTech startups with capital, guidance, leadership, and, in some cases, a hands-on role inside the company by providing technical and operational staff members. The Lab provides seed capital between $25,000 and $250,000. “We are excited to have Honeycomb Credit join The Lab and can’t wait to help them modernize the small business lending process and strengthen their local communities. George and his team not only have the rich community banking background but also the vision to completely change the way small business lending will be conducted going forward. We couldn’t be prouder to be a partner of Honeycomb Credit and look forward to continuing to help the team," said James.
For more information on Honeycomb Credit, please visit: https://www.honeycombcredit.com
For more information on SteelBridge Labs, please visit: http://steelbridgelabs.com
Source: SteelBridge Labs