Marketplace Lender P2Binvestor Announces $110 Million Milestone
P2Binvestor solves access-to-capital problem for growing businesses seeking larger credits
P2Binvestor solves access-to-capital problem for growing businesses seeking larger credits
DENVER, Oct. 20, 2015 /PRNewswire/ -- P2Binvestor (P2Bi.com), a leading marketplace lender for asset-backed working capital, today announces more than $110 million in funding provided to its borrowers. Since signing its first client in May 2014, P2Bi has financed the growth of companies with annual revenues ranging between $500,000 and $25 million and from industries that include technology, natural foods and products, manufacturing, logistics, energy and personnel services.
"As a former securities attorney, I'm immensely impressed with what P2Binvestor is doing," said Brenda Cagney, general counsel and co-owner of Cagney Global Logistics, a client of P2Bi with a multi-million-dollar credit line. "As a client, I can tell you that Ex-Factor is among the best financing options out there; we have accomplished so much with our improved cash flow in just under 60 days of working with P2Bi. On top of giving me the ability to log in and see exactly what we're paying and exactly where our account stands, their commitment to transparency and service is outstanding," Cagney continued.
P2Bi's crowdsourced funding model and technology platform reduce its effective cost of capital, creating room for more flexible rates and terms for its borrowers. A crowd of accredited and institutional investors participates in funding each credit line, and investors earn a return on the platform in exchange for supporting P2Bi's borrowers.
The company's significant growth and increasing market share are being driven in part by release of a new line of credit product, Ex-Factor, and its accompanying online "Lending Hub," a new borrower platform accessible on mobile and web and in any browser. The company released the first version of its Lending Hub earlier this month to existing clients.
"We are the only platform tackling multi-million-dollar lines of credit for growing businesses, and achieving this $110 million milestone in 18 months speaks to the the huge need for a technology-driven product," said Krista Morgan, CEO and cofounder of P2Bi. "Underwriting deals of this size requires more than personal FICO scores and basic cash flow analysis, and we're proud to be the first marketplace lender to create a scalable process, platform and a real solution for this market," Morgan added.
P2Bi can provide working capital financing of up to $5 million per borrower normally secured by accounts receivable, inventory or monthly recurring revenue.
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About P2Binvestor
P2Binvestor (P2Bi) is the first marketplace lender to supply multi-million-dollar working capital lines of credit to growing businesses in the U.S. Lines of credit are secured by receivables, inventory or monthly recurring revenue. P2Bi's clients sell products and services to brands like Amazon.com, Whole Foods, Costco, REI and other major retailers as well as universities, corporations and organizations across the United States. Participation in P2Bi's investor crowd is limited to accredited investors who have a relationship with the company. Connect with P2Bi at P2Bi.com or on Twitter @P2Binvestor.
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SOURCE P2Binvestor
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