How they describe themselves: Formally known as Merchant Cash and Capital, Bizfi consists of three synergistic product silos integrated across a dynamic, technology-actuated B2B platform. Bizfi’s aggregation silo comprises third party brokers, channel partners, and its direct sales force. The funding silo provides merchant cash advances and small business loans. The marketplace silo offers a participation market for institutional investors. Bizfi’s proprietary marketplace and funding technologies have provided more than $1.3B in financing to 26,000 small businesses in a wide variety of industries across the United States since 2005. Bizfi is the only alternative finance company to combine both aggregation and funding on one platform.
How they describe their product/innovation: 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.
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms