Bizfi Appoints Alternative Finance and Payments Veteran John Donovan as CEO
New York – October 24, 2016 – Bizfi (www.bizfi.com), a leading fintech company with a platform that combines aggregation, funding and a marketplace for small businesses, announced its board of directors has appointed John Donovan as the Company’s chief executive officer (CEO). Donovan is a 30-year veteran in the payments and alternative finance industry serving both small businesses and consumers.
Over the course of his career, Donovan helped pave the way for the development of the fintech and alternative finance industry. Having worked for nearly two decades with MasterCard, Donovan was integral to conceiving and developing new products, launching a global card program and growing the Company’s global electronic payments offerings. As one of the founding employees of Lending Club, Donovan helped create the direct-to-consumer fintech industry that has transformed the way consumers and financial institutions interact with one another. During his tenure at Lending Club, he held various roles including chief operating officer, board member and executive vice president of corporate development.
“Bizfi is transforming the way small businesses are accessing growth and working capital. John Donovan brings a unique combination of industry-related expertise, strategic vision and proven management experience which will accelerate this transformation and further enhance our market-leading position in the fintech space,” said Tom Breitling, Bizfi Chairman.
“I have known the Bizfi team for many years and have been extremely impressed with the market presence the company has established in the fintech space,” said John Donovan. “I have spent my career building and operating companies, conceptualizing new products and increasing shareholder value. It is clear that the Bizfi team have built the single best way for small businesses to access capital in a quick, frictionless and simple way.”
With originations growing over 35% over the past year, Bizfi continues to demonstrate record volumes, and is on track to approach nearly $600 million of fundings this year, highlighting the strength and scalability of the overall platform and the company’s leading position in the fintech industry.
Since its creation in 2005, Bizfi has provided more than $1.9 billion in capital to more than 33,000 small business owners. Earlier this year, the Company announced partnerships with Western Independent Bankers (WIB) and the National Directory of Registered Tax Return Preparers & Professionals (PTIN). These partnerships are providing hundreds of thousands of small business owners across the country with access to financing through the Bizfi platform in addition to the ability to visit Bizfi.com, the Company’s lending marketplace.
Bizfi is the premier fintech company combining aggregation, funding and a participation marketplace on a single platform for small businesses. Founded in 2005, Bizfi and its family of companies have provided in excess of $1.9 billion in financing to more than 33,000 small businesses in a wide variety of industries across the United States.
Bizfi’s connected marketplace instantly provides multiple funding options and real-time pre-approvals to businesses from a wide variety of funding partners. Bizfi’s funding options include short-term financing, franchise financing, lines of credit, equipment financing, medical financing, invoice financing, medium-term loans and long-term loans guaranteed by the U.S. Small Business Administration. The Bizfi API provides a turnkey white label or co-branded solution that easily allows strategic partners to access the Bizfi engine and present their clients with financial offers from Bizfi lenders all while maintaining their customer’s user experience. A process that once took hours, now takes minutes.
Abbie Sheridan / Kenneth Cousins
KCSA Strategic Communications
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