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Consumer debt restructuring platform LendStreet raises $7M in equity funding

LendStreet Inc., an online consumer debt restructuring and consolidation platform, has completed a $7 million series A equity round of fundraising.

The latest round was led by Prudential Financial Inc. and Radicle Impact LLC. LendStreet's existing investors Accion, the Center for Financial Services Innovation, Serious Change, Crunchfund, Kapor Capital, and Cross Culture Ventures also participated in the fundraising effort.

LendStreet also raised $110 million in debt financing from Prudential and Community Investment Management LLC.

Oakland, Calif.-based LendStreet restructures debt for consumers in financial distress. It provides technology-based solutions and resources that reduce consumer debt, increase credit scores and improve savings.

With the funding round, Miljana Vujosevic, vice president of Impact Investments, and Catha Groot, principal at Radicle, joined LendStreet's board.