Yes Lender acquires fintech startup Edge Funder to provide unsecured working capital to small businesses
Yes Lender, a King Of Prussia, Pennsylvania-based fintech startup today announced it has acquired Edge Funder to create an AI-powered funding portal for small businesses. The total amount of the transaction was not disclosed. The New York-based Edge Funder is an invite-only platform that provides unsecured working capital to small and medium-sized companies. It was founded a year ago by two fintech leaders.
Powered by artificial intelligence and proprietary software, the portal presents multiple funding options to merchants within 60 seconds. In addition, Edge Funder has deep marketing expertise in driving web traffic and originating quality leads of merchants in need of working capital. Yes Lenders said the acquisition will help fortifies its position in the merchant cash advance arena by adding internal lead generation capabilities and automated, data-driven decisioning.
Founded in 2020 by Amotz Segal, former director of operations at Yalber, and Kobi Ben Meir, Edge Funder, Inc. is a fintech startup that combined proprietary technology and AI-powered decisioning software in an automated platform with a seamless end-to-end user experience (i.e., from application to funding to servicing).
Glenn Forman, Yes Lender’s CEO, commented, “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.”
“We’re thrilled to be part of Yes Lender,” said Amotz Segal, Co-Founder and CEO of Edge Funder. “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.”
Founded in 2014, Yes Lender is an alternative financing company that provides working capital to small businesses to fuel their growth and sustain their success. Yes Lender is a rapidly growing company in the dynamic and fast-paced fintech sector. The company is led by Glenn Forman (CEO), a former partner with McKinsey & Company, Bret Dunlap (President), a serial entrepreneur who co-founded multiple technology companies, and Tom Petro (Principal), a serial banking entrepreneur that led the turnaround and IPO of Fox Chase Bank.