RetailCapital, a Troy, Michigan-based data and analytics company that makes financing available to small and medium size businesses, secured a new round of funding of undisclosed amount.
The round was led by Flexpoint Ford, which has over $1 billion under management and typically invests between $30m and $150m in its portfolio companies.
Led by co-founder Ryan Rosett and newly named CEO Glenn Goldman, RetailCapital provides a marketplace platform that leverages data science and analytics to improve the speed, cost and choices of capital available to small businesses. The platform, which considers a business’s total health, has provided short-term financing to thousands of small businesses around the United States. The company also has partnership programs for independent sales organizations, organizations that serve small businesses, banks and franchises.
Under Goldmam, RetailCapital plans to expand into an additional location in New York City and build out a number of key functions including data science, risk, marketing and product development, technology and online customer acquisition and fulfillment.
The company’s existing operational platform in Michigan will continue to grow to support the execution of this strategy.
FinSMEs
02/09/2014