Live Oak Ventures Participates in Financing of Synply, Inc.

Written by Customer Service on . Posted in Public Companies.

WILMINGTON, N.C., Oct. 21, 2024 (GLOBE NEWSWIRE) — Live Oak Ventures, the investment arm of Live Oak Bancshares, Inc., has announced an investment in Synply Inc., a cloud-based technology company dedicated to transforming the loan syndication process for banks.

“Live Oak’s entrepreneurial environment is fertile ground for new and exciting companies like Synply to enter the fintech landscape,” said Stephanie Mann, Live Oak Bank Chief Strategy Officer. “After incubating the Synply platform at Live Oak, we are excited to see the company level the playing field for all banks to compete in the syndicated loan space.”

Synply offers banks a simplified tool to centralize the entire process of syndicated lending and portfolio management.

“We built Synply because we saw a critical need for a modern and intuitive platform specifically designed for the loan syndication process,” said Corbin Penland, CEO of Synply and former managing director of loan syndications at Live Oak Bank. “Our team of experienced bankers understands the pain points associated with current tools and workflows. Synply empowers banks to focus on building relationships and growing their business, not managing cumbersome processes.”

The Synply platform offers end-to-end efficiency by allowing all banks participating in a loan to manage the entire loan syndication process, from origination to servicing, all within one platform.

About Live Oak Ventures
Live Oak Ventures, a wholly owned subsidiary of Live Oak Bancshares (NYSE: LOB), is a fintech-focused investor that aims to bring innovation and performance excellence to the forefront of the banking industry. By investing in companies that accelerate the delivery of open digital solutions to the market, Live Oak Ventures intends to change the landscape of financial services and small business banking.

About Synply
Synply is a cloud-based technology company dedicated to transforming the loan syndication process for banks. Developed by experienced bankers and incubated within Live Oak Bank, a leading industry player, Synply offers a comprehensive and user-friendly platform that empowers banks to easily navigate the complexities of loan syndication.

Contact:
Claire Parker
Live Oak Bank, SVP Corporate Communications
910.597.1592
claire.parker@liveoak.bank

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Cookie Notice

We use cookies to improve your experience on our website

Information we collect about your use of Goldea Capital website

Goldea Capital website collects personal data about visitors to its website.

When someone visits our websites, we use a third party service, Google Analytics, to collect standard internet log information (such as IP address and type of browser they’re using) and details of visitor behavior patterns. We do this to allow us to keep track of the number of visitors to the various parts of the sites and understand how our website is used. We do not make any attempt to find out the identities or nature of those visiting our websites. We won’t share your information with any other organizations for marketing, market research or commercial purposes and we don’t pass on your details to other websites.

Use of cookies
Cookies are small text files that are placed on your computer or other device by websites that you visit. They are widely used to make websites work, or work more efficiently, as well as to provide information to the owners of the site.