We are excited to announce that Fafnir has received $125,000 in additional seed funding from the U.S. Department of the Treasury. The funds will be used to support the development of an AI-based solution designed to help small businesses secure access to credit.
Fafnir founder and CEO James Yagley shared, “We are pleased to receive this critical investment to enable small businesses to survive the current economic crisis and emerge stronger on the other end. At Fafnir, our focus is on applying AI and analytics to support America’s diverse small business population.
We are proud of all we’ve accomplished in a short period of time. The initial funding that we received has enabled us to develop a full suite of analytic tools that small business owners can use, and we’ll be sharing more info about these tools soon.
This award validates all we’ve done so far. We’re moving full speed ahead and looking forward to building partnerships to help small businesses recover and grow.”
The funding Fafnir received is from the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund). Fafnir received the award through a competitive application and is their second consecutive year receiving the award.