Tuesday September 17, 2013 0 commentsDENVER - P2Binvestor, a leader in crowdfunded receivables financing, announced it has raised a Series A investment of $1.2 million in a combination of equity and warrants from entrepreneur John Spiers, Rockies Venture Club investors and numerous other investors.
P2Binvestor said it will use the investment to further expand its software platform and increase sales, marketing, finance and business operations.
The funding follows the company's August 2012 initial seed investment and is expected to help grow the business to scale, P2Binvestor said.
"Social funding is a fresh, timely way to access working capital and our clients immediately see the benefits of relational, crowd-based funding to their businesses," said Bruce Morgan, P2Binvestor CEO and co-founder.
"Bank credit remains tight, as illustrated by the fact that 67 percent of small businesses were unable to secure bank loans in the first quarter of last year. At P2Binvestor, we're bringing together like-minded entrepreneurs and investors to support and grow businesses while providing investment returns collateralized by business receivables."
The P2Binvestor platform offers businesses competitive, efficient access to working capital with the unique marketing benefits inherent in crowdfunding, the company said.
At the same time, it allows investors with whom it has established relationships to buy into a portfolio of business receivables and earn market-based returns.
P2Binvesor was founded in 2012 by Bruce and Krista Morgan along with former ETrade financial executive Todd Mackay.
For more information, visit www.p2bi.com.