Bizfi, a Fintech company with a platform that combines aggregation, funding and a participation marketplace for small businesses, announced it originated over $142 million in business financing in the fourth quarter of 2015 -- a record for any one quarter since the founding of the company and launch of the platform.
Bizfi and its proprietary marketplace and funding technologies have provided in excess of $1.4 billion in financing to over 27,000 small businesses across the United States since 2005. In 2015, Bizfi rebranded itself, launched its aggregation and funding platform, introduced its API (application protocol interface) and created its white label solution. Last month, Bizfi received a $65 million investment from Metropolitan Equity Partners which will be used to expand the Company’s suite of funding programs, increase funding speed, and generate brand awareness.
“2015 was an explosive year for Bizfi, which comes as a result of the launch of our platform, providing business owners with the opportunity to find and compare available funding options in one place,” said Stephen Sheinbaum, founder of Bizfi. “In 2016, we’re looking forward to further expanding our product set and funding even more of America’s small businesses.”
The Bizfi platform has integrated with 15 funding partners, including OnDeck, Funding Circle, Kabbage, IMCA Capital, Bluevine, SmartBiz and more than 30 non-integrated partners. The platform provides multiple funding options including short-term financing, medical financing, lines of credit, equipment financing, invoice financing, franchise financing, medium-term loans and long-term loans guaranteed by the U.S. Small Business Administration.
Sheinbaum concluded, “With changes in global markets leading to more uncertainty, the need for alternative financing will be more valuable than ever as small businesses look to ensure continued operations and stability - it’s how we can keep hundreds of thousands of workers employed and keep the economy afloat.”
Founded in 2005, Bizfi and its family of companies have provided in excess of $1.4 billion in financing to more than 27,000 small businesses in a wide variety of industries across the United States. Bizfi's connected marketplace instantly provides multiple funding options to businesses from a wide variety of funding partners and real-time pre-approvals. Bizfi's funding options include short-term financing, franchise financing, medical financing, lines of credit, equipment financing, invoice financing, medium-term loans and long-term loans guaranteed by the U.S. Small Business Administration. The Bizfi API provides a turnkey white label or co-branded solution that easily allows strategic partners to access the Bizfi engine and present their clients with financial offers from Bizfi lenders all while maintaining their customer's user experience.