Yes Lender acquired Edge Funder, a FinTech startup that is transforming entrepreneur’s access to working capital through its direct-to-merchant funding portal.
The acquisition will help Yes Lender fortify its strong position in the merchant cash advance arena by adding internal lead generation capabilities and automated, data-driven decisions. Powered by artificial intelligence and proprietary software, the portal presents multiple funding options to merchants within 60 seconds.
Yes Lender will leverage Edge Funder’s marketing expertise in driving web traffic and originating quality leads of merchants in need of working capital.
Commenting on the new deal, Yes Lender CEO Glenn Forman said, “We’re fortunate to have joined forces with the talent from Edge Funder. Their lead generation and direct-to-merchant funding platform are terrific complements to Yes Lender’s thriving ISO-driven sales channel. Moreover, the addition of artificial intelligence to our already robust array of data-driven risk assessment tools will further strengthen our underwriting.”
Echoing a similar sentiment, Edge Funder CEO Amotz Segal added, “We share the same vision as Yes Lender’s leadership team – to create an ecosystem that benefits our small business customers, our business partners, our employees and our investors, and to do so in a highly ethical way. We couldn’t be more excited about what the future holds for us.”
Edge Funder’s software in an automated platform with a seamless end-to-end user experience from application to funding to servicing.
Segal will serve as Yes Lender’s Vice President of Business Development, and co-founder Kobi Ben Meir will serve as the company’s Chief Marketing Officer.
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