Become: The Who, What, and Why of a Rebrand
Last week Lending Express rebranded to Become. Founded in 2016, the company, which educates businesses looking for loans on how to appear more attractive to funders, was spearheaded by CEO Eden Amirav in Australia originally, with an eventual expansion to the US. Three years in, the company has over 50 lending partners across its two markets, a record of having facilitated over $150 million in funding, and more than 150,000 members on their platforms. As indicators of progress go, these are far from undesirable. So, when things were going so well, what led Amirav to decide to rebrand?
In short, the company had evolved into something different from what it was in 2016, and its name, logo, and stylized website fonts had to reflect that. Thus, Lending Express became Become.
Gone are many of the aesthetic features of Lending Express, replaced with fresher counterparts, but beyond the brand, much of the company has remained. Amirav, the ex-pro gamer who was national champion of Israel in Warcraft 3 when he was a teenager, is still around; their AI-powered funding odds calculator, LendingScore, continues to be used; and their offices in both the US and Israel remain open.
Rather than being hoarded remnants of times past, what Become has brought with it from Lending Express were deemed necessary by Amirav when discussing what was required to execute the rebrand. Explaining that before planning for the future of the rebrand even begun, Lending Express worked for months to comprehensively take stock of itself, and Amirav noted that all hands were needed and the entire company pitched in. Whether it was ensuring that URL links which once directed people to Lending Express now went to Become, or the drafting up of the new name, much of the work that went into the business’s metamorphosis came from within the company. Of course, Become specializes is helping small businesses get approved for loans, so not everything could be done by themselves, which is where a marketing firm came in to aid them with the crafting of the company’s new image.
As to the motives of the rebrand, the brief explanation given above doesn’t cut it. A blog post on Become’s website explains the origins of both names. With Lending Express having a ‘do-what-it-say-on-the-tin’ aspect to it, Become is much more abstract in how it reflects the company. Noting that Become originates from both within the company and without, Amirav explains the name owes itself to Lending Express’s development into a “no human-touch, all-tech based” company, following LendingScore’s creation; as well as the business’s ability to help its customers achieve their goals, enabling them to become what they wish.
Rebranding comes at a massive financial cost, with no guarantee of an immediate large payout upon launch, but as Amirav asserted, the switch to Become was necessary in his long-term plan for the company, as the “stress [of the rebrand] is offset by the goal of where they want to go.” “We’re well equipped with people, resources, and vision,” Amirav went on to say, and as well as this, he believes in the importance of a strong brand, regardless of industry, claiming that it “becomes a power to work with.”
And with their new logo and four-tone color palette sure to catch eyes, perhaps Amirav’s gamble will pay off. For now, he’s content with his rebrand going public, the continued business of Become, and the “shareholders [being] happy.”Last modified: July 23, 2019
Brendan Garrett was a Reporter at deBanked.