Biz2credit

Biz2Credit is an online credit resource offering finance to small businesses. The company provides direct funding to small businesses that have been in business for at least six months.[2] The company is known for its financing products, educational resources for business such as the BizAnalyzer[3] and research that it publishes periodically, including the Small Business Lending Index.

Biz2Credit
TypePrivate
IndustryFinancial Services
Founded2007 (2007)
FounderRohit Arora, Ramit Arora
HeadquartersNew York, USA and Noida, India
Area served
USA, UK, India, Australia
Key people
Rohit Arora (co-founder & CEO)[1]
Ramit Arora (co-founder & President)
Websitewww.biz2credit.com

History

Biz2Credit was founded in 2007 by Ramit Arora and Rohit Arora as an online financial platform in the alternative lending industry.[4] While the company began initially as a provider of Marketplace lending for businesses, in 2013 the company changed its approach and to offer financing directly to its clients.

The company's investors include Nexus Venture Partners[5] and Tata Capital.[6] In 2014, the company received a $250 million commitment from direct lending investment to expand its small business financing facility.[7]

According to Biz2Credit's website, it is a financing solution designed specifically to serve small businesses. The company provides products such as merchant cash advances (MCA), and bridge loans. The company claims to have 1.1 million users and 1300 lenders using its small business financing system.[8]

The company was ranked among the top 500 fast-growing companies on Deloitte's 2017 Technology Fast 500.[9]

In 2019 Biz2Credit secured $50 million in Series B funding.[10]

Lending index

Since January 2011, Biz2Credit has released a monthly report called the ‘Small Business Lending Index’. The report covers monthly data from loan approval rates at banks and institutional lenders.[11][12][13]

Clients

References
  1. CNBC.com, Elaine Pofeldt, special to (2016-08-18). "The 25 best cities to get a business bankrolled". CNBC. Retrieved 2018-07-02.
  2. http://www.altfi.com/article/0314_us_online_credit_marketplace_increases_sme_borrowing_success_through_advanced_technology
  3. "Biz2Credit Adds SME Financial Score Simulator Tool to BizAnalyzer: Virtual CFO | Crowdfund Insider". Crowdfund Insider. 2015-12-15. Retrieved 2018-07-02.
  4. "Biz2Credit Launches In India For SME Finance | PYMNTS.com". www.pymnts.com. Retrieved 2018-07-02.
  5. "Biz2Credit Gets $250 Million Commitment – TechCrunch". techcrunch.com. Retrieved 2018-07-02.
  6. "Tally add-on enables small biz to get loans - Times of India". The Times of India. Retrieved 2018-07-02.
  7. "Biz2Credit Receives $250 Million Commitment from Direct Lending Investments to Purchase Loans | Crowdfund Insider". Crowdfund Insider. 2014-12-30. Retrieved 2018-07-02.
  8. "Biz2Credit to revolutionize the $300 billion Indian funding market through online financing". @businessline. Retrieved 2018-07-02.
  9. GmbH, finanzen.net. "Small Business Loan Approval Percentages Hit Record Highs for Banks and Institutional Lenders in May, According to Biz2Credit Small Business Lending Index Strong Economy and Job Growth Reflected in... | Markets Insider". markets.businessinsider.com. Retrieved 2018-07-02.
  10. Kapur, Narinder (2019-06-06). "WestBridge leads huge Series B round in digital lender Biz2Credit". VC Circle. Retrieved 2019-12-12.
  11. Arora, Rohit (2018-12-13). "Banks Are Approving Small Business Loans at Rates Not Seen Since Before the Great Recession". forbes.com. Retrieved 2019-03-07.
  12. Marks, Gene (2018-02-12). "Lending by big banks to small businesses hits a record high, study finds". washingtonpost.com. Retrieved 2019-03-07.
  13. Cortese, Amy (2014-03-05). "Can't Get a Bank Loan? The Alternatives Are Expanding". nytimes.com. Retrieved 2019-03-07.
  14. Sengupta, Devina (2016-04-12). "Tata Capital ties-up with Biz2Credit to reach out to small businesses in India". The Economic Times. Retrieved 2018-07-02.
  15. "Popular Bank Announces Partnership to Expand Small Business Financing Solutions with FinTech Provider Biz2Credit". Retrieved 2019-03-07.
  16. "HSBC to Offer Online Small Business Loans in Canada". americanbanker.com. Retrieved 2019-03-07.
  17. "Biz2Credit ties up with Tally Solutions - Banking Frontiers". Banking Frontiers. 2018-06-08. Retrieved 2018-07-02.
  18. Corporation, JetPay. "JetPay Partners with Biz2Credit to Expand Customer Access to Business Loans". GlobeNewswire News Room. Retrieved 2018-07-02.
  19. Bhakta, Pratik (2018-09-19). "Andromeda signs strategic alliance with Biz2Credit". ET Tech. Retrieved 2019-12-30.
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