The Top Small Business Funders Now Vs. Then

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Top Small Business Funders By Year

2008 2014 2023
AdvanceMe (CAN Capital) OnDeck Square
First Funds CAN Capital Enova (OnDeck / Headway)
Merchant Cash and Capital (BizFi) Kabbage Shopify
BFS Kapitus PayPal
AmeriMerchant Rapid Finance Amazon
GBR Funding National Funding Intuit

Many people look at 2023 vs 2008 and arrive at the conclusion that the fintechs rose to the top, but if one were to narrow down the definition of those players a little further, they’d notice that PayPal and Square are payment companies, Shopify and Amazon are e-commerce companies, and Intuit owns the Quickbooks accounting software. These are actually older companies that took an old idea (split-funding) and made it new again with some key changes. Although in the present moment it may feel like some of them cannot be beat (which is how the industry felt about the top funders in 2008), much can change over the course of this decade.

Keep your eye on:

  • AI
  • Blockchain (as payment rails, record-keeping)
  • Regulation
Last modified: January 11, 2024
Sean Murray

Category: Business Lending, merchant cash advance

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