Numerated
The business, the turning points, and the decisions behind them.
Some sections are still being researched2 / 4
Sections to complete：02 · 05
01 / WHAT IT BUILT
What the company did
Numerated was a Boston-based fintech helping financial institutions digitize business lending. Founded in 2017 — incubated at Eastern Labs inside mutual bank Eastern Bank — by co-founder and CEO Dan O'Malley, it built a modern loan origination system that let banks approve small business term loans, lines of credit, and deposit accounts in minutes rather than days. It powered 5-minute loan experiences, pre-qualifying businesses and pre-filling digital applications across banks' full suites of business banking products. With about $32 million in funding (including a $15 million Series B led by Patriot Financial Partners), it helped over 100 banks and credit unions process more than $50 billion in loans for nearly half a million businesses, ranking No. 1 on the Boston Business Journal's 2022 Fast 50.
02 / FAILURE REASONS
Material for this section is being gathered and checked. It will appear here once ready.
03 / EVENT HISTORY
Events in the structured record
- Founded
Numerated was founded in Boston as a spin-out incubated at Eastern Bank's Eastern Labs, raising an initial $9 million led by Cultivation Capital FinTech and Venrock.
- Raised $15M
Numerated closed a $15 million Series B led by Patriot Financial Partners, bringing total funding to $32 million.
- Fastest-growing in MA
Numerated ranked No. 1 on the Boston Business Journal's Fast 50 list of the fastest-growing private companies in Massachusetts.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN / AFTERMATH
Material for this section is being gathered and checked. It will appear here once ready.