FintekNews Deal of the Day – Behalf Raises $27M

NYC-based Behalf offers small businesses short term loans (180 days max) of up to $50,000 to pay their vendors.  The site positions its strength in offering borrowers instant credit decisions and vendors the ability to offer their customers better terms and a smooth collections process, increasing sales by as much as 20%, according to their site.  The company has offices in both NYC and Israel and was previously named Zazma.  Their nine investors to date include Sequoia Capital and Spark Capital who have participated in all three funding rounds, and Ron Suber of Prosper, amongst others. 

According to their Crunchbase listing:  “Behalf fills a significant economic need, by offering access to short-term financing for businesses of all size, with flexible repayment terms. Our innovative method of analyzing credit requires businesses to answer just four questions. Then, they get access to fast, fair financing to help them seize opportunities, address cash flow needs, and keep growing. We pay vendors directly, so there’s no paperwork to deal with, no time wasted waiting for checks to clear, making the process as simple and efficient as possible.”

Total Equity Funding
$156M in 3 Rounds from 9 Investors

Most Recent Funding
$27M Series C on August 30, 2016

Read Full Listing at Crunchbase