Hum Capital is a US financing company, founded in 2019, that provides $1 million to $50 million of non-dilutive debt to established US businesses with at least $2 million in annual revenue. It lends directly through its arm, Hum Financial, and when that isn’t the right fit, it matches companies with outside lenders on its marketplace, which it launched in 2021 as the Intelligent Capital Market.
It began in 2019 as a provider of financial analytics, added a marketplace in 2021 and is now mainly a direct lender. This review covers how Hum works today, what it publishes about terms and eligibility, its history and backers, how to judge whether it is legit, and what to ask before you sign.
Key Takeaways
- Hum Capital states, as of October 2026, that it lends $1M-$50M to US businesses with $2M or more in annual revenue, with a sweet spot of $2M-$10M.
- Hum reports originating $97.0M of loans in 2024 and $123.4M in 2025, figures it publishes on its own site.
- Hum raised a $9M Series A led by Future Ventures in August 2021, extended to $21M that November, and announced a $200M debt facility from Synovus Bank and InterVest in April 2025.
- Hum’s broker-dealer, ICM Capital Markets, has been FINRA-approved since October 2021 and showed no disclosures on BrokerCheck in October 2026.
- Hum’s FAQ gives no rates; in the Federal Reserve’s 2025 Small Business Credit Survey, 60% of online-lender borrowers said costs were higher than expected, against 37% at small banks.
What Hum Capital does
Hum offers two routes to the same kind of money: debt, with no equity. Its FAQ describes them this way (read October 2026):
- Hum Financial, direct lending. “With Hum Financial, Hum is the lender of record. Hum Financial underwrites, structures and funds the facility.” Its partners page lists term loans, delayed-draw and multi-tranche facilities.
- Hum Marketplace. When direct lending isn’t the right fit, Hum matches the company with lenders “from a network of 900+ partners”, and the company chooses which lender to work with. The marketplace page lists asset-based facilities, term loans, lines of credit, purchase order financing, equipment financing and sale-leasebacks.
Both start the same way: you connect your accounting and banking data, and Hum’s software and underwriters assess the business from it. Hum says it underwrites “to cash flow and debt service coverage, not just collateral”. Equity is not on offer: “at this time, Hum Capital only offers debt financing”.
Hum earns money differently on each route. On the marketplace it charges a success fee, a percentage of the capital raised, due only when a deal closes. TechCrunch reported that fee as 2% in 2021; Hum’s FAQ does not state the current rate. On direct loans it earns the interest and fees in your financing terms.
Hum Capital terms and eligibility
Here is what Hum publishes about who it funds and on what terms, with the source for each:
| Term | What Hum states | Source |
|---|---|---|
| Location | Companies headquartered and operating in the US | Homepage, Oct 2026 |
| Revenue | $2M or more in annual revenue | Homepage, FAQ, Oct 2026 |
| Financing size | $1M-$50M, with a sweet spot of $2M-$10M | Our Story, Oct 2026 |
| Products | Debt only: term loans, delayed-draw and multi-tranche facilities directly; more types through the marketplace | Partners page, How it works, Oct 2026 |
| Pricing | Deal by deal; a non-binding term sheet lists all fees and pricing | FAQ, Oct 2026 |
| Fees before closing | “Some lenders, including Hum Financial, may charge documentation or other fees before closing” | FAQ, Oct 2026 |
| Personal guarantee | “No personal guarantee required”, in its referral-partner marketing | Homepage, Partners page, Oct 2026 |
We found no interest rates, fee levels, covenants or lien terms for Hum’s own loans on the Hum pages we read on October 15, 2026. An earlier version of this review listed a 1-3% origination fee, a monthly monitoring fee and set covenants as Hum’s terms. The 1-3% figure does not appear in any Hum source we could find. The fee and covenant types came from a 2021 Hum overview of financing vehicles across the whole market, which calls origination and monitoring fees typical for some products, not from Hum’s own term sheet, so we have removed them.
Hum Capital history, founders and backers
Blair Silverberg, Csaba Konkoly and Chris Olivares founded the company in 2019, according to Hum’s 2021 launch release, which says it was then called Capital. FINRA’s BrokerCheck record lists its owner as Hum Capital, Inc. (formerly Capital Technology Solutions Inc.). Silverberg, a former investor at the venture firm DFJ, was CEO until 2024. Andrew Eisen has led the company since then, per Hum.
| Date | Event | Source |
|---|---|---|
| 2019 | Founded as Capital (legal entity Capital Technology Solutions Inc.) | Hum release, FINRA BrokerCheck, SiliconANGLE |
| Jun 2021 | Renamed Hum Capital; launches the Intelligent Capital Market with 250+ investors | Hum release, TechCrunch |
| 2021 | Makes its first loans from its own balance sheet | Hum |
| Aug 2021 | $9M Series A led by Future Ventures | Hum release, TechCrunch |
| Oct 2021 | Broker-dealer ICM Capital Markets, LLC approved by FINRA | FINRA BrokerCheck |
| Nov 2021 | Series A extended to $21M, adding Invesco Private Capital and a Cowen affiliate | Hum release, Venture Capital Journal (round total) |
| Feb 2023 | About $35M raised since 2019, per Crunchbase | SiliconANGLE |
| Oct 2024 | Andrew Eisen becomes CEO | Hum |
| 2024 | $97.0M of loans originated | Hum |
| Apr 2025 | Announces a $200M debt facility from Synovus Bank and InterVest | Hum |
| 2025 | $123.4M of loans originated | Hum |
The arc matters for a borrower. In 2021 Hum was mainly a marketplace that introduced companies to investors, and in November 2021 it added equity raises to the platform; it now says it offers debt only. Today its own lending comes first and the marketplace is the fallback, so for most borrowers Hum is the lender, not an intermediary.
Is Hum Capital legit?
Hum is a real, venture-backed lender with a FINRA-approved broker-dealer. The public record shows:
- Broker-dealer: its broker-dealer, ICM Capital Markets, LLC, is FINRA-approved and showed no disclosures on BrokerCheck when we checked on October 15, 2026. BrokerCheck covers that affiliate, not Hum Financial’s lending.
- Backers: Future Ventures, Invesco Private Capital and a Cowen affiliate invested in its Series A, as TechCrunch and SiliconANGLE report.
- Lending record: Hum reports $97.0M of loans originated in 2024, $123.4M in 2025 and a loan portfolio of $109.6M in 2026. These are its own figures.
- Recognition: it was named Business Lending Platform of the Year in the 2026 FinTech Breakthrough Awards, announced by FinTech Breakthrough on March 19, 2026.
What’s missing is independent borrower reviews. Hum’s Trustpilot profile had no reviews when we checked on October 15, 2026, and we found no borrower reviews on other major sites. The testimonials on humcapital.com are chosen by Hum. Before you sign, ask for two or three borrowers at your size whom you can call.
What Hum Capital might cost
Hum says it prices each deal separately, and its FAQ gives no rates. The term sheet is the only place to see the cost, so get the all-in figure, including fees before closing, in writing.
That habit matters more with non-bank lenders. In the Federal Reserve’s 2025 Small Business Credit Survey (6,525 small employer firms, a convenience sample, released March 2026), 60% of firms that borrowed from online lenders said costs were higher than expected, against 37% at small banks and 32% at large banks. These are small employer firms with 1 to 499 employees, so read it as a lesson about non-bank lending, not about Hum.
Some states now require lenders to show the cost as an APR. New York’s commercial finance disclosure law, in force since August 2023, requires non-bank providers to give an APR and finance charge on offers of $2.5 million or less to businesses managed from New York, as Buchalter’s summary explains. Outside those cases, ask the lender to state the APR including fees.
Our Founderpath vs Hum Capital comparison has a calculator for that: enter the rate and fees from your Hum term sheet and compare the total repayment with Founderpath’s options for the same cash and term.
Questions to ask Hum Capital before you sign
- What is the all-in cost? Ask for interest, every fee (including documentation fees before closing and any marketplace success fee) and the APR that results.
- Who is my lender and servicer? Hum lets capital providers invest in whole transactions or alongside it, so ask whether your loan will be shared and who you deal with after closing.
- What security does the facility take? Ask for the collateral and lien position, and whether the lender files a UCC-1; see our explainer on UCC filings.
- Which covenants apply? Hum underwrites to cash flow and debt service coverage, so ask which ratios you must keep; see debt covenants for SaaS founders.
- Are there warrants? Hum says it offers debt only, but confirm there is no equity kicker; our guide to debt warrants explains them.
- Is there a personal guarantee? Hum’s referral-partner marketing says no personal guarantee is required; confirm in writing that none applies, including bad-acts guarantees.
- Can I prepay? Ask what it costs to repay early in each year.
Matt Spiegel, founder and CEO of Lawmatics, describes the trade-off from the borrower’s side:
I think in venture debt and this type of debt situation… there’s not a lot of personal guarantee. There’s not a lot of individual responsibility that’s getting put on some of the debt. But it’s also… there’s a cost, right? There’s the debt service. It’s going to increase, you know, it adds to the balance sheet.
Matt Spiegel, Founder and CEO, Lawmatics. Watch at 20:40
Watch the full interview with Matt Spiegel, with transcript.
Who Hum Capital fits
Hum fits an established US company with at least $2 million in revenue, positive cash flow and a need for $1 million or more, in almost any industry. It is not SaaS-specific: its recent case studies include logistics, healthcare and equipment companies. A company that doesn’t fit Hum’s own lending can still use the marketplace to reach other lenders.
It is not built for companies under $2 million in revenue, companies outside the US, or founders who want equity. For a SaaS company below Hum’s floor, revenue-based financing sized to recurring revenue is the closer fit.
Hum Capital alternatives
Each lender’s figures are its own statement, as of October 2026:
| Lender | What it offers | Size and eligibility |
|---|---|---|
| Liquidity Group | Private credit that Liquidity describes as AI-driven, often through Mars Growth Capital, its joint venture with MUFG Bank | $10M-$200M for growth and mid-market companies (Liquidity) |
| Efficient Capital Labs | Revenue-based financing for SaaS and AI companies, in USD, INR or SGD | $100K-$5M, often up to 60% of ARR; from $500K ARR, companies in the US, India or Singapore (ECL) |
| Founderpath revenue financing | Revenue purchase from a 7% discount rate, up to $1.5M per round | Typically $1M-$3M ARR |
| Founderpath term loans | $500K-$10M from 15% annual interest, up to 4 years, interest-only up to 24 months | Typically $3M+ revenue |
Funding for SaaS companies below Hum’s floor
Hum starts at $2 million in revenue and $1 million of financing. Many bootstrapped SaaS companies need capital before they reach either line.
Founderpath provides non-dilutive capital for B2B SaaS companies with at least $10K MRR. There’s no equity, no warrants, no board seats and no full personal guarantee: Founderpath takes a lien on business assets only. Connect your billing, banking and accounting data, and most founders see funds within 24-48 hours.
Check what you qualify for. It takes less than 5 minutes.
Frequently asked questions
What is Hum Capital?
Hum Capital is a US financing company founded in 2019 that provides $1 million to $50 million of non-dilutive debt to established US businesses with at least $2 million in annual revenue. It lends directly through Hum Financial and matches other companies with outside lenders on its marketplace.
Who founded Hum Capital?
Blair Silverberg, Csaba Konkoly and Chris Olivares founded Hum Capital in 2019, when it was called Capital. Silverberg was CEO until October 2024, when Andrew Eisen became CEO.
Is Hum Capital legit?
Yes. Hum is venture-backed, its broker-dealer ICM Capital Markets is FINRA-approved with no disclosures on BrokerCheck as of October 2026, and it reports originating $123.4 million of loans in 2025. Independent borrower reviews are scarce, so ask for references.
Is Hum Capital a lender or a broker?
Both. Through Hum Financial it is the lender of record on direct loans, which it says is its primary product. Through its marketplace it matches companies with other lenders and earns a success fee, with securities offered through its broker-dealer, ICM Capital Markets.
How much can you borrow from Hum Capital?
Hum states that it provides $1 million to $50 million, with a sweet spot of $2 million to $10 million, to US companies with at least $2 million in annual revenue.
How much does Hum Capital charge?
Hum says it prices each deal separately, and its FAQ gives no rates. Its term sheet lists all fees and pricing, some lenders including Hum Financial may charge documentation fees before closing, and marketplace deals carry a success fee. Ask for the all-in APR in writing.
Does Hum Capital require a personal guarantee?
Hum’s referral-partner marketing says no personal guarantee is required, as of October 2026. Confirm in your loan agreement that no personal or bad-acts guarantee applies.
What was Hum’s Intelligent Capital Market?
The Intelligent Capital Market was the name of the platform Hum launched in June 2021 to match companies with institutional investors using their financial data. Hum’s site now describes its lender-matching service as the Hum Marketplace, the fallback when its own direct lending isn’t the right fit.
Sources and method
We checked every figure in this review on October 15, 2026, against Hum’s own pages, FINRA and independent coverage. Where only Hum states a fact, the text says so. We removed figures from the earlier version that we could not trace to a source about Hum. Sources:
- Hum Capital FAQ, homepage, Our Story, partners page and How it works, read October 15, 2026
- Hum, $200 million facility release, April 2, 2025, and leadership changes release, October 2024
- Hum Capital launch release, June 16, 2021, and Series A release, August 31, 2021
- TechCrunch, August 31, 2021; Venture Capital Journal, November 2021; SiliconANGLE, February 16, 2023
- FINRA BrokerCheck, ICM Capital Markets, LLC, read October 15, 2026
- FinTech Breakthrough Awards, 2026 winners
- Federal Reserve Banks, 2026 Report on Employer Firms, released March 2026
- Buchalter on New York’s commercial finance disclosure regulation, February 2023
- Liquidity private credit page and Efficient Capital Labs non-dilutive capital page, read October 15, 2026
- Hum Capital Series A extension release, November 18, 2021; Hum overview of financing vehicles, 2021
- FinTech Breakthrough Awards release, March 19, 2026; Hum team page and Hum Capital on Trustpilot, read October 15, 2026
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