smartfundit.com, the world’s first business finance marketplace, was today named a finalist of Red Herring 100 Europe, an award given to the top 100 private technology companies based in the EMEA (Europe, Middle East and Africa) region each year. Several hundred private companies were evaluated based on financial data and subjective criteria, including quality of management, execution of strategy, and dedication to research and development. The finalists will be honoured at the Red Herring Europe 2009 Conference, scheduled for March 31- April 2, at the Berlin Radisson Hotel.
Founded in 2006, smartfundit.com provides a transparent, democratic marketplace in which companies looking to make business-critical purchases can connect with funders and vendors that can provide quick and secure asset financing. The company has generated over $1billion of finance demand from over 4000 businesses to date, expects further growth given the restricted access to funding from conventional sources during the current economic downturn. The second version of the smartfundit.com online platform launched recently, adding more functionality for the platform’s diverse range of users.
“smartfundit.com is delighted to receive this recognition of our innovative and disruptive technology offering,” said Suki Gallagher, chief executive of smartfundit.com. “Today’s climate is extremely challenging for businesses that need to access funding in order to invest in their future, while vendors need to open new channels and funders want to lend to sound businesses. Our open platform democratises and expedites the process of financing, bringing all of these constituencies together in a way that challenges the old models that were ponderous and opaque.”
Commenting on the award finalists, Alex Vieux, Red Herring publisher, said, “This year’s impressive list of submissions from companies demonstrates Europe’s growing role as a major centre of innovation in the global technology sector. The exceptional accomplishments of European technology startups and entrepreneurs are a testament to the rapid advancements being made in building the European innovation ecosystem.”
Red Herring’s lists of top private companies are an important part of the publication’s tradition of identifying new and innovative technology companies and entrepreneurs. Companies like Google™, eBay, and Skype™ were spotted in their early days by Red Herring editors, and touted as leaders that would change the way we live and work.
Smartfundit.com is the world’s first online business finance marketplace. Smartfundit.com connects businesses with funders to provide easier, transparent and de-risked access to critical business financing through an open online market. By matching 100 percent of the audited credit score of the business with the financing rules of the funder, Smartfundit.com takes cost, complexity and time out of the end-to-end financing process. The Smartfundit.com marketplace has connected over 4,000 businesses to over 8,000 finance product combinations from its panel of funders to provide access to over £1 billion in business financing. Launched in 2006, smartfundit.com is a privately owned company with major investors including BayTech Venture Capital. Smartfundit.com has headquarters in Surrey, England, UK and an office in San Francisco, California, USA.
About Red Herring
Red Herring is a global media company which unites the world’s best high technology innovators, venture investors and business decision makers in a variety of forums: a leading innovation magazine, an online daily technology news service, technology newsletters and major events for technology leaders around the globe. Red Herring provides an insider’s access to the global innovation economy, featuring unparalleled insights on the emerging technologies driving the economy.