Diligence memo · auto-generated · as of July 2, 2026
Forward Lending, Inc.
Forward Lending, Inc. looks fair against its niche peers and is at-risk on financing cadence.
Businessfiled
Forward Lending, Inc. operates in Fintech, based in AUSTIN.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Forward Lending, Inc. has raised $56M in disclosed capital across 2 recorded rounds, aggregated from public filings. Its latest round is modeled as Series B (a $15M–$40M round).
Largest single filing: $37M on 2024-05-10.
Most recent recorded round closed around 2024-05-10.
Valuation (modeled)modeled
Provath models Forward Lending, Inc. at approximately $294M (range $90M–$540M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Fair. Modeled value is 1.08× the median modeled value of Series B Fintech companies in 2022–2024 (14 peers) — value vs value, same stage and era. Within the normal band (108% of peer median) for its niche.
Financing rhythm & timingmixed
Historic cadence: a new round about every 18 months.
Last raise 2.1 yr ago; this sector typically re-raises about every 12 months.
Past due for a raise versus sector cadence — watch for distress or a bridge.
The last round stepped up 2.0× from the prior — scaling.
Comparablesmixed
Capital scale ranks ahead of 97% of Fintech peers (1063 compared).
Modeled value ranks above 94% of those peers.
Closest niche peers: PayMongo Inc., Treasury Prime Inc., Advisor Credit Exchange, LLC, Butter Payments, Inc., Apto Payments, Inc..
Peoplefiled
5 named people on file across officers, directors and signatories.
Risks & flagsmixed
Overdue for a raise versus sector norm — distress or bridge risk.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.