Crypto
SME lending fintech Newity raises $11 million to move loans on-chain
U.S. small-business lending fintech Newity raised $11 million in a strategic investment, The Block reported on Feb. 20 local time. The round was led by CMT Digital, the trading and investment arm of CMT Group, with participation from multiple private and institutional investors. Newity, founded in 2020 to support the U.S. Small Business Administration’s Paycheck Protection Program loans, now focuses on government-backed and growth-secured loans. It plans to develop an on-chain loan transition strategy.
