Become
| File:Become Logo.png Become | |
| Privately held company | |
| ISIN | 🆔 |
| Industry | Financial services |
| Founded 📆 | 2016 |
| Founders 👔 | Eden Amirav Iri Amirav Amir Leitersdorf Guy Zipori Ofer Ariel Daniel Katz Uri Sittan |
| Headquarters 🏙️ | , , Israel |
Area served 🗺️ | |
| Products 📟 |
|
| Members | |
Number of employees | 25 (2020) |
| 🌐 Website | www |
| 📇 Address | |
| 📞 telephone | |
Become (Formerly: Lending Express) is an end-to-end financial optimization platform for SMBs that provides businesses with funding and data-based strategic know-how to optimize their profitability.
Its loan marketplace uses advanced algorithms to provide SMBs with customized funding offers.
In addition to its funding platform, Become’s BeProfit profit calculator app[1] provides online SMBs with the tools and insights needed to maximize their profits and optimize their business,[2] including a dashboard that enables e-commerce store owners to track and analyze all their most important business metrics in one centralized location. Qualified BeProfit users can claim ad funding offers of up to $50,000 to use for their online advertising efforts.
Become is growing with over 236,000 business owners registered through its platform. The company has built an ecosystem of more than 50 leading lenders and Fintech partners including Bluevine, Fundbox, Funding Circle, Enova and Prospa, and has facilitated over $316 million in tailored SMB loans to date (2021).
Become is backed by Benson Oak Ventures, Entrée Capital,[3] Magenta Venture, Viola Credit, Dreampact Ventures and iAngels.[4]
Founded in 2016, the company has offices in San Francisco and Tel Aviv.[5]
History[edit]
Become established its online business loan marketplace in October 2016. The company was founded by entrepreneurs Eden Amirav, Iri Amirav, Amir Leitersdorf, Guy Zipori, Ofer Ariel, Daniel Katz and Uri Sittan. The company started out with the provision of business loans to small-to-medium businesses (SMBs) based in Australia and then expanded to the US in 2017[6] and Canada in 2020.
In 2019, Become expanded its online platform, enabling small businesses to compare loan rates and terms and choose from multiple funding solutions in one dashboard.
With a company goal of helping small businesses become more profitable through data-driven technological solutions, Become developed and launched the BeProfit dashboard in 2020 to help e-commerce businesses become more profitable.
Key personnel[edit]
Become was originally founded as "Lending Express" by a team of entrepreneurs with a long history of establishing and managing profitable technology companies.
Eden Amirav is Co-Founder and CEO of Become.[7] Previously, Co-Founder and CEO at AlgoSeller (a profitable performance marketing company with over $7 million in annual revenue), Maple (acquired by Web3) and 3 Dots (acquired by Oped). [8]
Technology[edit]
Become uses data-driven technology to automatically collect and analyze input across multiple parameters, incorporating predictive and machine-learning algorithms to prioritize quality leads generated from programmatic media buying on numerous digital channels.
Through Become’s business loan marketplace, borrowers can apply online for loans between $5,000 and $500,000. The prospective borrower can then choose and compare funding offers from a variety of matched lenders through the funding platform. Once approved, funds are made available within as little as 24 hours. Become’s LendingScore technology helps businesses that are not eligible for funding to identify where they fall short of lenders’ requirements and also offers step-by-step guidance to improve on these factors and become fundable, or improve their funding options if already approved.
For eCommerce merchants that wish to optimize their profitability, the company’s BeProfit dashboard is currently downloadable from the Shopify app store.[1] This profit tracker app collects information from a range of key data points by automatically integrating with the seller’s eCommerce platform, external marketing platforms, shipping profiles and payment processors. BeProfit’s profit calculator then organizes this complex data in an intuitive, interactive dashboard and automatically calculates the profit of the online store. Qualified store owners can receive and claim ad funding offers of up to $50,000 to be used towards their online advertising. The funding is provided as a cash advance, which can be accessed within two business days via the virtual Become card.
Reception[edit]
By Q1 2017, the company had established 3 new partnerships with Australian lenders and helped fund 50 loans totaling over $1 Million.[9]
By August 2017, Become had become the leading marketplace in Australia with a rapidly growing customer database and millions of dollars worth of business funding.[10]
In September 2017, Become entered the American business lending marketplace and began offering its products to SMBs in a number of American states. At that time, the company’s matching technology, Matchscore, was also introduced.[11]
By the end of Q4 2017, Become had helped fund more than 500 loans and their registered user base had grown to over 30,000.[12]
In June 2018, Become established its physical presence in the US with the opening of its office in San Mateo, California.
The company achieved a major milestone in January 2019 when it reached $100 million in facilitated funding through its platform.[13][14]
In 2020, Become pivoted in the wake of the global health crisis, and expanded its focus to eCommerce funding, a previously underserved segment of the market with untapped potential. In November 2020, the company deepened its service offering to eCommerce merchants with the launch of its BeProfit profit calculator dashboard, as a means to help these business owners become more profitable and ultimately more fundable.[15]
As of January 2021, Become had facilitated funding to over $230 Million to SMBs in the United States, Australia and Canada.
Become has been experiencing growth, with hundreds of thousands of customers registered through its platform, facilitating $4,000,000 worth of business funds on a monthly basis.
The company’s BeProfit dashboard is on a positive growth trend for installations and retention.
Currently (2021) Become has a 4.9/5 TrustPilot score.
References[edit]
- ↑ 1.0 1.1 1.2 "BeProfit Profit Calc & Reports". shopify. Retrieved 20 April 2021.
- ↑ "Become Releases a New Shopify App – Beprofit, to Expand Its Offerings to the E-Commerce Market". deBanked. 25 November 2020. Retrieved 30 March 2021.
- ↑ Alois, JD (22 May 2018). "AI Powered Online Lending Marketplace Lending Express Receives $2.7 Million Seed Round". Crowdfund Insider. Retrieved 28 December 2020.
- ↑ O'Hear, Steve (29 October 2019). "Become scores $12.5M Series A for its business lending marketplace". TechCrunch. Retrieved 30 March 2021.
- ↑ Stone, Todd (13 June 2018). "Lending Express Opens Office in Silicon Valley". deBanked. Retrieved 30 March 2021.
- ↑ "Business Loan Company Lending Express Expands to California". Calcalist. 24 January 2019. Retrieved 30 March 2021.
- ↑ Collins, Bryan (18 December 2018). "World Of Warcraft Helped This Man Grow An 8-Figure Business". Forbes. Retrieved 30 March 2021.
- ↑ "2020 30 Under 30 List: Eden Amirav". forbes. Retrieved 30 March 2021.
- ↑ Trucksess, Lauren (3 July 2017). "SMB lending marketplace Lending Express launches in Australia". Telegraph Magazine. Retrieved 30 March 2021.
- ↑ "New platform to compare and apply for a small-business loan launched". Inside Small Business. 10 July 2017. Retrieved 30 March 2021.
- ↑ "Israel innovation nation: start-up economy a model worth watching". The Australian. 19 April 2018. Archived from the original on 24 April 2018. Retrieved 30 March 2021.
- ↑ Shahaf, Tal (22 May 2018). "AI business loan co Lending Express raises $2.7m". Globes. Retrieved 30 March 2021.
- ↑ Hobey, Erin (23 January 2019). "Lending Express Celebrates $100M Lending Milestone & California's Golden Opportunities". crowdfundinsider. Retrieved 30 March 2021.
- ↑ Pick, Adi. "Fintech Startup Become Raises $10 Million" (29 October 2019). Calcalist. Retrieved 30 March 2021.
- ↑ "Israel Startup Become Releases a New Shopify App - Beprofit, to Expand Its Offerings to the E-Commerce Market". Volanews. 26 November 2020. Retrieved 30 March 2021.
External links[edit]
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