Lending Express, an AI-powered marketplace for business loans, has opened a new Silicon Valley office in San Mateo, as well as the appointment of Moshe Kazimirsky to VP of Strategic Partnerships and Business Development to support the West Coast team. The announcement comes on the heels of Lending Express’ May $2.7 million seed funding round led by Entrée Capital, iAngels, and existing investors.
Over the past 12 months, Lending Express has reportedly increased the total number of loans matched six-fold, connected SMBs to $44.8M in funding since operations began in 2016 Q4, and expects to quadruple their amount of US funding in three quarters from $1.3M to $5.2M.
“The alternative lending sector is growing at an incredibly rapid rate,” indicated Lending Express CEO & Co-Founder Eden Amirav. “After the immense success we’ve had in the Australian market, we knew that our platform was ready to take on the US. Moshe’s appointment, combined with our newly opened office in California will enable us to keep pace with the burgeoning industry and continue to service more lenders and businesses around the world.”
In his new position, Kazimirsky will head up partnership management, business strategy and operations. Previously, Kazimirsky led the Platform business at AVG Technologies, a $80M portfolio later acquired by Avast Software, where he was charged with handling strategic partnerships. While there, he managed all key platform partnerships and deals with Google, Yahoo, IAC, Amazon, and eBay as well as maximized revenue and increased customer lifetime value (LTV).
“Lending Express is fundamentally changing the nature of business lending and empowering SMEs with the tools they need to get their ventures off the ground,” opined Kazimirsky. “I’m thrilled to be able to apply my extensive experience in strategic planning to build the relationships that will enable Lending Express to continue to grow and expand their offering.”
Lending Express’ technology matches businesses with the most relevant lenders and provides a fast, simple funding solution at no cost. Through its proprietary AI-powered AlgoScore™ and MatchScore™ algorithms the platform predicts the likelihood of a potential business to be funded and match the most relevant SMBs with the right lender, financial solution, and terms, providing lenders with the most qualified customers and thus increasing conversion rates from application to loan.
Lending Express counts over 55,000 customers and over $40M in SMB loans funded through its platform. The company has partnered with more than 25 leading lenders and FinTech companies. The Lending Express marketplace offers multiple business funding products such as unsecured business loans, lines of credit, merchant cash advances and invoice factoring.