The online alternative funding marketplace originated more than $142 million in business financing in the fourth quarter, the company’s best quarterly performance to date.
Since its inception in 2005, Bizfi has provided more than $1.4 billion of financing to more than 27,000 small businesses across the United States.
The record total caps a 2015 which also included a rebrand and three additions — an aggregation and funding platform, API and a white label solution. The run continued into January as the company announced a $65 million investment from Metropolitan Equity Partners.
“2015 was an explosive year for Bizfi, which comes as a result of the launch of our platform, providing business owners with the opportunity to find and compare available funding options in one place,” Bizfi Founder Stephen Sheinbaum said. “In 2016, we’re looking forward to further expanding our product set and funding even more of America’s small businesses.”
Biz has integrated with 15 partners including OnDeck, Funding Circle, Kabbage and BlueVine, and has nonintegrated partnerships with 30 more. That depth positions Bizfi well in the marketplace, Mr. Sheinbaum believes.
“With changes in global markets leading to more uncertainty, the need for alternative financing will be more valuable than ever as small businesses look to ensure continued operations and stability — it’s how we can keep hundreds of thousands of workers employed and keep the economy afloat.”