1West Acquires Rethink Capital
Acquisition was conducted with the goal to utilize the 1West Automated Business Lending Engine (ABLE) to enhance the ease and growth for small business financing across the country.
NEW YORK, Oct. 12, 2021 /PRNewswire/ -- 1West Finance ("1West"), a leader in the small business lending marketplace, and Rethink Capital ("Rethink"), an organization specializing in sales and operations for small business lending, today announced a definitive acquisition agreement to enhance 1West with Rethink's portfolio and team. 1West's procurement of Rethink provides an opportunity to improve the quality of services in the near term for both companies' clients and partners.
To gain this momentum, 1West planned and executed the following:
- Integrated Rethink's three-year tenured seasoned sales and operations teams into 1West's ever-expanding portfolio, allowing for a greater market share in the SMB space.
- Developed and launched ABLE (Automated Business Lending Engine), 1West's exclusive and innovative lending platform.
- Reaffirmed their commitment to cultivating an all-inclusive technology thoroughly supported by an extensive operations and sales unit.
"The acquisition of Rethink Capital fits into 1West's mission of bringing a superior user experience to the brokerage side of business financing," said Kunal Bhasin, Founder of 1West. "Funding companies have technology platforms making the user experience seamless for their customers and we are now bringing that same approach to the marketplace. Rethink's team will allow for additional capacity to assist with the inflow of customers while Rethink's portfolio will increase user adoption."
"1West will leverage their technology against our sales team, who all retain extensive knowledge within Financial Technology," said Michael Assim, CEO and Founder of Rethink Capital. "As we look to expand, I will head the opening of a South Florida, 1West branch in Miami by the beginning of Q4. The commercial market in Florida has grown exponentially within the last 15 months, allowing this acquisition to hit the market at an opportune time."
About 1West
1West is a premier SMB financing marketplace that combines technology, sales and operations on a single platform for small businesses.1West's team has provided and/or assisted in providing over $1Billion in financing to small businesses in a wide variety of industries across the United States.
About Rethink
Rethink launched in 2018 and created a secure and client-friendly portal for applicants to obtain funding. By opening with a softer sales approach, along with generating a financial roadmap for each borrower, Rethink became a trusted source of funding which resulted in higher conversions, customer loyalty, and portfolio performance.
Media Contact:
Michael Caronna
[email protected]
(888) 881-WEST (9378)
SOURCE 1West
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