FinovateSpring 2015 / Dealstruck
Presenter Profile:
How they describe themselves: Dealstruck is a technology-driven direct lender offering lines of credit and term loans to small businesses (generally the mid-prime market). Its mission is to deliver appropriate financing solutions that meet the true needs of small businesses across their financing lifecycle, putting them on a path to bankability. Dealstruck also offers a revenue-secured loan option, asset-based line of credit and inventory line of credit.
How they describe their product/innovation: Dealstruck is debuted its new Line of Credit Borrower Portal, which allows its borrowers to seamlessly manage their revolving with Dealstruck. Borrowers can see their current balance and amount available for draw, update their borrowing base by linking their QuickBooks-based invoices, reconcile check payments that have been received to pay down the outstanding balance, and make other adjustments to their accounts.
Product distribution strategy: Direct to Business (B2B)
Contacts:
Bus. Dev.: Candace Klein, Chief Strategy Officer, candace@dealstruck.com, (o) 858-430-8301, (m) 859-803-9499
Press: Sierra Dowling, H3O Communications, sierra@h3ocommunications.com, 415-882-8822
Sales: Ryan Campbell, VP Sales, ryan@dealstruck.com, 619-456-0007
Website: dealstruck.com
Twitter: @dealstruck
HQ: Carlsbad, CA
Founded: June 2012
Product Demoed: Line of Credit Borrower Portal
Product Launch: May 2015 at FinovateSpring 2015
Metrics: Dealstruck has a team of 40, has lent $50M. Dealstruck raised a total of $4.5M seed round in 2013 and $8.5M in a Series A round this March, led by Trinity Ventures.
Presenters: Ethan Senturia (CEO & Co-Founder), Russell McLoughlin (CTO & Co-Founder)
- Key Executives
Ethan Senturia (Co-Founder & CEO), Russell McLoughlin (Co-Founder & CTO), Jim Burke (CFO), Alexandra Chrisman (CMO), Candace Klein (Chief Strategy Officer), Ryan Campbell (VP Sales), Rudy Navarro (VP Operations), Robert Riedl (VP Capital Markets)
Key Stats
- Key Board Members
Zalman Vitenson (Board Chair & CEO, Integrate Financial), Noel Fenton (Trinity Ventures)
- Key Investors
Trinity Ventures
- Key Advisory Board Members
Steve Dyrdahl, (VP Engineering, ID Analytics), Cliff Boro, (Managing Partner, The Team Group), Tom Broadhead (Managing Partner & Co-Founder, The Team Group), Amanda Montgomery (Director, Allianz Global Investors)
- Key Partnerships
Established relationships with The UPS Store and LendingTree
- Key Customers
Focused on the small business market. Dealstruck customers have typically been in business at least 2 years and come from all industries. To date, Dealstruck serves customers in 43 states and expects to be in all 50 states by end of the year.