Better Finance

lendingsme financing

FOUNDING YEAR: 2009
LOCATION: United States
Last Update: 01/05/2020

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About

There are many fintech companies. However, top talent gravitates toward those, like SmartBiz, that make the world a better place through teamwork and innovation. We support the little guys entrepreneurs across America and its our privilege to help them reach their business dreams. SmartBiz grew out of the 2008 financial crisis when banks werent equipped to provide the funding small businesses needed for growth. SmartBiz became the white knight galloping in with a smart solution. With nearly $1 billion in funded loans, SmartBiz is the #1 bank marketplace for online SBA loans and is now expanding into bank term loans as well. We reached this milestone by building a diverse, talented and passionate team, having fun together while also doing the best work of our lives. SmartBiz awards include being named to the Inc. 500 in 2018, selected as a Best Place to Work in FinTech 2018 by American Banker as well as the distinction of being one of the San Francisco Business Times 2016 Best Places to Work. SmartBiz Loans is headquartered in San Franciscos Financial District with a second fast-growing office located in Austin, Texas.

MEDICI Analysis

Better Finance, Inc. is a financial technology company providing innovative solutions for small business lending. The company was founded in 2009 by a team of experienced financial services entrepreneurs with backing from leading venture capital firms including Investor Growth Capital, Venrock, First Round Capital, Baseline Ventures, and SoftTech VC.

Focus

PRODUCTS & SERVICES

SmartPay for Consumers,SmartBiz for Small Business,

REVENUE MODEL

The company generates revenue form fees applied on each loan.

MAIN CLIENTS

Amazing Balloons by Gee

EXISTING PARTNERSHIPS

Yahoo,Shakey's

COMMENT

Better finance charge customers lower monthly payments and rents.

Traction

VALUATION / MARKET CAP:

$262.5 M in 2015

People

BOARD MEMBERS AND ADVISORS

Brian Ascher

Stephen DeBerry

Mark Goines

NUMBER OF EMPLOYEES

51-200

INVESTORS:

Baseline Ventures

Bronze Investments

First Round

Investor Growth Capital

Mark Goines

PayPal

SoftTech VC

SV Angel

Venrock

Momentum

FUNDED

YES

NUMBER OF FUNDING ROUNDS

3

TOTAL FUNDING

$37 M

DATE OF LAST FUNDING

2013

FUNDING SERIES

SERIES A  · $4.5 M  · Jul 2010

SERIES B  · $11.5 M  · Apr 2011

SERIES C  · $21 M  · Jan 2013

LISTED

NO

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