iAdvance Now Hires Chief Revenue Officer
iAdvance Now announced on Tuesday that it hired John Kuriger as Chief Revenue Officer, who was formerly Vice President at Lendio.
“We believe that John is the missing piece of the puzzle for us to take iAdvance Now to the next level,” said iAdvance Now cofounders Belal Ayoub and Eddie Hamid in a joint statement. “John will bring with him positive changes that will result in benefits for our merchants, our employees, and our strategic partners. We’re looking forward to the future and fulfilling the vision we have for iAdvance Now and couldn’t have picked a better individual to join us on this journey.”
Ayoub told deBanked that hiring Kuriger is part of a larger effort to grow the company’s business. Currently, 90 percent of iAdvance Now’s business comes from its merchant cash advance product. The company, a large ISO with 65 employees, also offers term loans, SBA loans and factoring. But Ayoub said that part of Kuriger’s job will be to develop more business for these other product offerings, and also to help with project management to improve efficiency and overall conversion.
iAdvance Now provides financing to customers in a variety of industries, including medical offices, restaurants, trucking, and beauty salons. Ayoub said that no single industry is dominant in his business and that 100 percent of his business is generated internally. Of the company’s 65 employees, 45 of them are salespeople.
iAdvance Now has a third cofounder, Troy Caruso, who is also the company’s CFO. The company was founded at the end of 2014 and is based in Long Island. Ayoub also said that the company expects to grow this year into next and may move into a larger office.Last modified: July 11, 2018
Todd Stone is a reporter for deBanked.