BizEquity, a Wayne, Pennsylvania, U.S.-based online provider of business valuation services, raised $5.1m in Series A venture capital funding.
FinTech private equity firm Frost Brooks made the investment.
The company intends to use the funds to accelerate its global expansion. BizEquity, which already has a presence in London and Singapore, aims to fully launch in the U.K. in the first quarter of 2015 followed by strategic rollout across Europe, Asia Pacific and North Africa.
Founded in 2010, and led by Michael M. Carter, CEO, BizEquity provides a cloud based online business valuation platform for the small and midsize business (SMB) marketplace. It has valued more than 27 million businesses around the globe ranging in annual revenue from $50k to $100m. To date, the company has registered eight patents and has another 60 patents and inventions pending.
Clients include Metro Bank, Experian, Dynasty Financial Partners, Bryn Mawr Trust Bank, Fox Chase Bank, and Action Coach.