FinovateSpring 2022 / QuickFi by Innovation Finance
Presenter Profile:
How they describe themselves: QuickFi increases equipment sales for global manufacturers. QuickFi provides nearly instant, self-service, 24/7 term financing to business equipment buyers. By offering a nearly instant, low-cost, self-service financing option, manufacturers make it easy for creditworthy companies to acquire new business equipment.
QuickFi uses facial recognition, blockchain, AI and the latest mobile and cloud technologies to revolutionize the business equipment financing process.
How they describe their product/innovation: The QuickFi demo shows how a bank can onboard new business customers, authenticate and credit score the new business borrower, and complete a term financing transaction… all in about five minutes. QuickFi provides its bank partners with a white-labeled, self-service mobile equipment financing platform, for less than one-third the cost of legacy systems.
Product distribution strategy: Direct to Business (B2B), Through financial institutions
Contacts:
Bus. Dev.: Bill Verhelle, CEO, bill@quickfi.com, 239-227-4662
Press: Joseph Vu, SVP Marketing, joe@quickfi.com, 585-207-0279
Website: https://QuickFi.com
LinkedIn: https://linkedin.com/company/innovation-finance
Twitter: https://twitter.com/@innovation_fin
HQ: Fairport, NY, USA
Founded: January 2018
Product Demoed: QuickFi®
Metrics: In 2021, QuickFi began providing new business equipment financing for several global manufacturers selling equipment to SMB borrowers throughout the U.S. QuickFi provides 50-state, term, secured, equipment financing for Johnson Controls (USA), Atlas Copco (EU), SANY (Asia), Juniper Networks (USA), Essentium (USA), Busch Vacuum (EU) and others. During that period, QuickFi loan volume grew by over 800%. A similar (8x) increase in transaction volume is expected in 2022. QuickFi doubled the number of global manufacturer partners using its platform in 2021.
QuickFi will add six to ten new global equipment and global technology partners in 2022 and begin serving banks, in addition to global equipment manufacturers. QuickFi will also launch its proprietary “QuickFi Prime” loyalty and repeat-business SMB customer program this year.
QuickFi was founded by the founders and leaders of the highly successful, First American Equipment Finance business, which today operates as Royal Bank of Canada’s U.S. equipment finance company.
Raising Funding: Series A in late 2022 or 2023
Presenters: Nate Gibbons, Chief Operating Officer, QuickFi | Jillian Munson, Technology Project Manager, QuickFi
- Key Executives
Bill Verhelle (CEO), Mark Tomaselli (CTO), Mike Ziegelmann (CFO), Nathan Gibbons (COO), Joe Vu (SVP Marketing), Mendel Guillaume (SVP), Courtney Dioguardi (SVP), Chip Hainley (SVP)
Key Stats
- Key Board Members
Bill Verhelle (QuickFi Investor), Guy Klingler (QuickFi Investor), Mark Tomaselli, Mike Ziegelmann
- Key Partners
SANY America, Atlas Copco Compressors, XCMG America Financial, Johnson Controls, Juniper Networks