Merchant-finance platform Bizfi received a $65 million boost from Metropolitan Equity Partners today to help it drive money into U.S. small businesses.
The debt financing will help the New York-based company:
- Expand its financing programs to meet the capital needs of small businesses
- Decrease the amount of time it takes for businesses to receive financing
- Build brand awareness
Combined with the $75 million the company received in March 2014, Bizfi’s debt financing totals $140 million. Additionally, Bizfi has raised $15 million in equity financing from various angel investors.
Since its 2005 launch, Bizfi has provided $1.3+ billion in financing to 26,000+ small businesses across the U.S. The company’s small business financing platform consists of three product silos:
- Aggregation silo: comprised of third-party brokers, channel partners, and Bizfi’s direct-sales force
- Funding silo: provides merchant cash advances and small business loans
- Marketplace silo: offers a participation market for institutional investors
Bizfi debuted its aggregation platform at FinovateFall 2015 in New York City.