Bizfi, the premier fintech company with a platform that combines aggregation, funding and a participation marketplace for small businesses announced that it originated more than $127 million in business financing in the third quarter of 2015. This represents a double-digit percent increase in originations compared to the second quarter of 2015.
Stephen Sheinbaum, founder of Bizfi, stated:
“As the U.S. economy shifts, more small businesses are looking for new sources of growth and working capital. They are finding, in Bizfi, a source of financing that is simple to use, quick and efficient. That is particularly the case in the months since we launched our marketplace platform. We are funding a growing number of clients every month, and our technology allows us to create more strategic partnerships to better serve the small business community.”
More than 3,500 companies were funded through Bizfi in the third quarter of this year. The growth comes as Bizfi continues the expansion of its platform, which now includes strategic relationships with integrated funding partners, including OnDeck (NASADAQ: ONDK), Funding Circle, CAN Capital, Kabbage, IMCA Capital, Bluevine, SmartBiz, and more than 30 non-integrated partners. Bizfi, which rebranded from Merchant Cash and Capital in September 2015, also participates in funding through the site.
Last month, Bizfi launched both its API (application protocol interface) and a white label solution at Finovate New York, a key FinTech industry conference. These technologies enable partner companies to provide direct lending solutions to their small business customers. The first partner to leverage the platform is Xero, a cloud-based online accounting software for small businesses worldwide with more than 540,000 small business subscribers. Xero’s subscribers are now able to access instantly alternative financing options through Bizfi’s seamlessly integrated online application process.
“Whether business owners come directly to Bizfi.com or through a white label portal, we are committed to making their visit the most productive it can be.”