SAN DIEGO, July 18, 2024 /PRNewswire/ -- New Frontier Funding, a pioneer in leveraging generative AI to help small and medium-sized businesses (SMBs) find credit and debt funding, today announced it has closed a significant round of growth capital from the Homsher Family Office.

The investment highlights the power of generative AI in production to solve a systematic and complex problem: getting more capital into the hands of business owners.

Currently, 68% of U.S. SMBs are undercapitalized, while private credit funds hold over $1.3 trillion in unutilized capital. The problem is not supply and demand, it's connecting the two.

New Frontier bridges this gap by taking the side of the business owner, assessing their business, and then making introductions to the few capital sources who are most likely to fund their company. This process saves time, and results in better capital from high-integrity lenders.

The company uses its proprietary data and fine-tunes OpenAI's language models for semantic search and agentic workflows to reduce back-office work and accurately match borrowers with lenders.

This round of growth capital will fund technology infrastructure, continued development of AI, and making additional leadership hires to keep the business on its 400% year-over-year growth trajectory.

The terms of the transaction were undisclosed.

About New Frontier Funding
New Frontier Funding works on behalf of business owners to secure the best credit and debt options to support growth and operations. It combines rigorous data science and AI with deep domain expertise and a simple credo: "do the right thing for the business owner," to pair borrowers with lenders that allow for efficient deal-making in the fragmented and opaque SMB lending ecosystem.

About Homsher Family Office
Established in 2015 and based in San Diego, California, the Homsher Family Office aims for capital preservation through investments in uncorrelated alternative asset classes and direct investments in the financial technology sector. With its principal member's long history and track record in financial services and banking, it seeks to partner with management teams, and add value through capital, insight, and relationships.

Contact

New Frontier Funding
Jason Steinberg
380539@email4pr.com
(908) 448-4001
https://newfrontierfunding.com

Homsher Family Office
380539@email4pr.com
(310) 201-2200
https://homsherfamilyoffice.com

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SOURCE New Frontier Funding