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Metropolitan Equity Partners Increases Investment in Bizfi

June 30, 2016, 07:00 AM
Filed Under: Industry News

Metropolitan Equity Partners (“Metropolitan”) announced it has invested $20M in Bizfi.This investment represents an increase from the $65M financing of the Company in December.

This round of financing will enable Bizfi to:

  • Expand its suite of funding programs, increasing its ability to fund America’s small business capital needs.
  • Increase the speed at which funding applicants access direct financing from Bizfi.
  • Develop and implement a national marketing campaign designed to increase the awareness of the Bizfi brand and platform within the small to medium-sized business community.

Paul Lisiak, Managing Partner of Metropolitan stated, “While the FinTech industry has experienced some recent headwinds, our confidence in both Bizfi and its place in the alternative financing industry has never been stronger. Since our original investment, Bizfi’s management has proven month after month its ability to generate profits and growth in an industry where most companies are calculating burn rate.”

Bizfi and its proprietary marketplace and funding technologies have provided in excess of $1.7 billion in financing to more than 30,000 small businesses across the United States since 2005. The Bizfi platform has integrated with 15 funding partners, including OnDeck, Funding Circle, Kabbage, IMCA Capital, Bluevine, SmartBiz and more than 30 additional partners that are available offline. Bizfi also participates in funding on the platform. The platform provides multiple funding options including short-term financing, medical financing, lines of credit, equipment financing, invoice financing, franchise financing, medium-term loans and long-term loans guaranteed by the U.S. Small Business Administration.

“Metropolitan has proven to have a clear vision for both Bizfi and the industry. Our relationship has deepened over the past few months and when the opportunity to raise additional capital presented itself, MEP was the most logical partner,” said Stephen Sheinbaum, Bizfi founder.

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