Yes Lender, an alternative financing company that provides working capital to small businesses, recently acquired Edge Funder, Inc., a fintech start-up that is transforming entrepreneur’s access to working capital through its direct-to-merchant funding portal, the company announced in a release.
Powered by artificial intelligence and proprietary software, the portal presents multiple funding options to merchants within 60 seconds. In addition, Edge Funder has marketing expertise in driving web traffic and originating quality leads of merchants in need of working capital.
“The acquisition fortifies Yes Lender’s strong position in the merchant cash advance arena by adding internal lead generation capabilities and automated, data-driven decisioning,” the company stated.
“We're fortunate to have joined forces with the talent from Edge Funder,” Yes Lender CEO Glenn Forman said in the release. “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,” Forman added.
“We’re thrilled to be part of Yes Lender,'” Amotz Segal, co-founder and CEO of Edge Funder, said. “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.”