ApplePie Capital Closes $6m Series A Round and $28m of Debt Capital

As online lending platforms gain momentum in the financial world, new startup ApplePie Capital Inc. told Venture Capital Dispatch it raised $6 million in Series A funds for its service. It also received $28 million as a pool of debt capital to use for issuing loans.

The San Francisco-based company offers an alternative source of loans for a particular type of small business, franchisees, which represents around $500 billion of U.S. gross domestic product annually.

Borrowers can come to its website and get loans quickly and on good terms, while lenders can find good returns, according to Denise Thomas, ApplePie’s co-founder and chief executive.