In a recent statement P2Binvestor (P2Bi) shared they have signed $7.3 million in client contracts and purchased over $16 million in invoices since this past May. P2Bi is a crowdfunding platform that offers growing businesses a new method to receive needed working capital. Businesses may access capital via asset backed crowdfunded loans. P2Bi has 4 lines of credit offerings including: receivables, asset backed, future contractual revenue and purchase order financing.
Their peer to peer or “P2B” business serves companies seeking financing in the $200,000 to -$5 million range and lends to companies in all 50 U.S. states. Participants on the P2Bi platform typically can earn 8-14% monthly.
The Denver based company has also announced the appointment of Jennie Hoff as chief operating officer (COO). The executive line up is expanding in light of the company’s growth. Hoff is expected to play a key role in accelerating P2Bi’s growth plan and replaces former COO G. Krista Morgan, cofounder of P2Bi, who stepped into the role of president at the Denver-based financial technology company last month.
Hoff brings 28 years of experience in technology leadership and operational management to P2Bi. Her career has included roles in a large public consulting firm, mid-size private organizations, and three technology startups in Austin including a SaaS play in 1999 that later exited to NetSuite. Prior to joining P2Bi, Hoff served as an officer at several private companies including American Innovations, Troux Technologies, and Rivet Software, a financial services SaaS firm ranked #60 on the Inc. 5000 Top Software Companies and Red Herring Top 100.
“Jennie Hoff is an incredible addition to our executive team. She will be integral in reaching our short- and long-term performance goals, scaling our operations, and building out our technology platform,” said G. Krista Morgan, president and cofounder of P2Bi.
“We are thrilled that Jennie has joined the team, and timing is perfect after such a tremendous year of traction for our company,” said Bruce Morgan, CEO and cofounder of P2Bi. “Her background speaks for itself, and her expertise will be critical to P2Bi’s continued growth.”