Finovate Alumni News

On Finovate.com

  • “Tink to Test PFM App with 10,000 ABN AMRO Customers”
  • “Bizfi Closes on $65 Million in Debt Financing”
  • “Nous Closes In On £350,000 Fundraising Goal” [Update: Nous Exceeds Original Goal, Raises $750,000].

Around the web

  • “TIS Closes 550,000 Euro Deal with Leading German Health Insurance Provider”
  • Trustly partners with payment solution iDEAL in the Netherlands.
  • TechCrunch looks at OnDeck and the future of alt-lending.
  • USA Today features how Simple is a different type of bank.
  • TechCrunch considers how TransferWise is a better way to send remittances.

This post will be updated throughout the day as news and developments emerge. You can also follow alumni news headlines on the Finovate Twitter account.

Bizfi Debuts Aggregation Silo for Business Financing

This post is part of our live coverage of FinovateFall 2015.

BizfiLogoOur first presenter of day two at Finovate is Bizfi, demonstrating how it helps with lead monetization in business financing:

At FinovateFall, Bizfi will be highlighting its aggregation silo, which the company is now making available to partners as a white-label or co-branded solution. Bizfi’s aggregation platform enables sales offices and/or partners to maximize lead monetization, while taking advantage of economies of scale and scope, powered by data science and technology. The proprietary technology behind the aggregation silo is further supported by strategic relationships with more than 35 funding partners. For potential customers, the presence of the aggregation silo translates into greater choice, efficiency, and convenience.

Presenters: Stephen Sheinbaum, founder, and Walt Levengood, chief strategy officer

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Product launch: April 2015
Metrics: $15 million raised in equity in 2006 from a handful of angels; currently raising its first round of institutional equity; ~$100 million of debt (senior, mezzanine, and subordinated); LTM revenues $69.2 million; LTM EBITDA $15.3 million; YTD production ~$257 million; $1.3 billion+ provided to ~26,000 customers; 175 employees.
Product distribution strategy:
Direct to business (B2B), through financial institutions, through other fintech companies and platforms

HQ: New York City, New York
Founded: May 2005
Website: bizfi.com
Twitter: @bizfinyc