FinovateFall 2013 / Simple Verity
Presenter Profile:
How they describe themselves: Simple Verity Inc. provides small business credit data services. Credit information is important for access to capital and in everyday business transactions. Current credit services have little or no information on millions of small businesses (i.e. “thin file” or “no-hit”). Simple Verity helps small businesses get access to capital by providing third-party verified credit information.
How they describe their product/innovation: SimpleVerity is a fully automated small business credit verification process. The system can produce a reliable credit report on any small business in America – including the millions of businesses with little or no data on file at the major bureaus. Using a social approach and proprietary analytics, SimpleVerity elevates small business credit from uncertainty and risk into the light of consistent, data-driven analysis.
Product Distribution Strategy: Direct to Business (B2B), through financial institutions, & through other fintech companies and platforms
Contacts:
Bus. Dev. & Sales: Randall Lucas, Co-Founder & CEO, rlucas@simpleverity.com,
617-905-7467
Press: Jeff Pecor, Tailwind PR, jeff@tailwindpr.com, 802-497-1932
Website: simpleverity.com
Blog: blog.simpleverity.com
Twitter: @simpleverity
HQ Location: Seattle, WA
Founded: June 2012
Product Demoed: SimpleVerity®
Product Launch: September 2013
Metrics: 1000 business references in private beta, $250,000 raised, 3 employees
Presenter(s): Randall Lucas (CEO & Co-Founder),
Jeff Pecor (Marketing)
- Key Executives
Randall Lucas (Co-Founder & CEO) & Michael Carreno (Co-Founder & CTO)
Key Stats
- Key Board Members
Don Lavoie, PhD (CEO, Developmetrics, President & GM, Experian Business Info Services, EVP, LowerMyBills.com, & CEO & Board Chairman, Sekurus), Tim Bates (CRO, BECU, SVP Corp. Credit, Washington Mutual, Equifax, & Experian), Louis Hyman, PhD (Assistant Professor, Cornell University, McKinsey & Company, & Author, Borrow: The American Way of Debt & Debtor Nation: The History of America in Red Ink)
- Key Advisory Board Members
Don Lavoie, PhD (CEO, Developmetrics, President & GM, Experian Business Info Services, EVP, LowerMyBills.com, & CEO & Board Chairman, Sekurus), Tim Bates (CRO, BECU, SVP Corp. Credit, Washington Mutual, Equifax, & Experian), Louis Hyman, PhD (Assistant Professor, Cornell University, McKinsey & Company, & Author, Borrow: The American Way of Debt & Debtor Nation: The History of America in Red Ink)
- Key Investors
Boris Tamarkin (Former CEO, WisdomForce Technologies), David D’Souza (Former Director, Microsoft Windows & angel investor), Erik Benson (General Partner, Voyager Capital), Geoff Entress (angel investor), & Jack Breese (Former Director, Microsoft Research & angel investor)
- Key Customers
Private beta with 3 non-bank business lenders & a variety of B2B vendors