Bizfi, a NYC-based fintech company that combines aggregation, funding and a marketplace for small businesses, raised $20m in funding.
Metropolitan Equity Partners provided the financing.
The company intends to use the funds to expand its suite of funding programs, develop and implement a national marketing campaign designed to increase the awareness of the Bizfi brand and platform within the small to medium-sized business community.
Founded in 2005, by Stephen Sheinbaum, founder, Bizfi operates a connected marketplace that provides multiple funding options and real-time pre-approvals to businesses from a wide variety of funding partners including OnDeck, (NASDAQ:ONDK), Funding Circle, Kabbage, IMCA Capital, Bluevine, SmartBiz and more than 30 additional partners that are available offline. Options include short-term financing, franchise financing, medical financing, lines of credit, equipment financing, invoice financing, medium-term loans and long-term loans guaranteed by the U.S. Small Business Administration.
The company’s API provides a white label or co-branded solution that allows strategic partners to access the Bizfi engine and present their clients with financial offers from lenders all while maintaining their customer’s user experience.