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August 21, 2021

jaris Announces Series B

jaris is the leading embedded lending solution for payments-enabled software companies with significant capacity to scale with partners.

Burlingame, Calif. Aug 18, 2021 - jaris, the leading private label and full-stack embedded lending solution in the U.S., today announced its launch out of stealth mode with its close of $31M in Series B financing, positioning itself as the category leader in the Credit-as-a-Service (CaaS) space.

GSR Ventures led the Series B funding round of $31M with participation from Wing Venture Capital, Franklin Templeton, and individual investors.

As merchant lending for small to medium-sized businesses has increased, the complex and inefficient experience in applying and obtaining funds has created a significant barrier for merchants. In addition, software companies and payment platforms have lacked the options and choice to offer embedded lending to their customers.

jaris, a private label CaaS platform, makes it simple for payment-enabled software companies to offer branded financial services to small businesses to help increase engagement, retention, and brand loyalty. Fully managed by jaris and accessed via an innovative API, partners can quickly deliver competitive, fast financial services to their merchants. jaris is a full-stack solution that includes underwriting, servicing, and financing. jaris’ significant financing capacity through banks and whole-loan purchasers makes it the trusted solution for embedded lending.

“Lending is the biggest opportunity in embedded financing today. Our ability to remove complexity and increase access to capital for small businesses has positioned us as a leader in CaaS solutions, which has led to our rapid growth in the embedded finance space,” said Chris Aristides, founder and CEO of jaris.

jaris will use the newly raised funds to hire across all disciplines, including engineering, finance and operations, to support its rapid growth. In addition, jaris plans to expand its product offerings to enable partners to get to market faster and to provide capital to the broadest range of their small business customers.

“The $3.4 trillion SME gap is in dire need of efficient solutions that scale. We are pleased to deepen our partnership with jaris and have been extremely impressed with its full-stack solution. Under Chris’ leadership, jaris has rapidly built a world-class team, consisting of veterans and experts with decades of experience in the finance and tech industries. We look forward to further supporting them as they continue to build and expand embedded financing solutions,” said Emmanuel Vallod of GSR Ventures.

“Embedded financing has a massive addressable market and is forecasted to generate $230B in revenue by 2025,” said Gaurav Garg of Wing Venture Capital, who led both seed rounds. "The next wave of meteoric growth companies are embedding financial services into their applications as a strategic advantage. Embedded finance is the future of the financial services industry."

About jaris

jaris is the leading partner-branded embedded financial services solution for payment-enabled software providers targeting small businesses. jaris has removed the complexity of accessing capital through a full-stack solution, paving the way for partners to get to market faster with competitive, high-value solutions. With a commitment to continuous innovation, jaris makes it simple for payment-enabled software companies to offer partner-branded financial services to small businesses, helping increase engagement, retention, and brand loyalty. For more information, visit jaris.io.

About GSR Ventures

GSR Ventures is an early-stage global venture fund investing in technology companies from AI-enabled enterprise business to consumer platforms. The GSR team includes founders, fintech veterans and enterprise executives with unmatched industry expertise. Founded in 2004, the firm has more than $3 billion under management. In addition to jaris, the fintech portfolio includes Advance Intelligence, Nium, MDAQ, iBoxPay, and OPay. For more information, visit www.gsrventuresus.com/fintech.

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