Tag: fintech

New fintech startup RocketOption helps founders get financing faster
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New fintech startup RocketOption helps founders get financing faster

Serial entrepreneur and startup founder Matt Wilbanks has launched RocketOption, a fintech company that gives business owners a fast way to get debt financing options.RocketOption uses your business metrics — revenue, cost of supporting the product, how fast the company is growing — and matches you with lenders interested in financing a startup."There is a new category of lender that have evolved from the venture capital world," Wilbanks said. "Many don’t take equity in the startups they lend to and they provide loans based on the recurring revenue a startup is generating."Software as a Service or SaaS startups can generate millions in revenue but have little in tangible collateral. To address this financing need, venture lenders who issue revenue-based loans have emerg...
MR Presta Founder Cesar Manduca Dead at 47
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MR Presta Founder Cesar Manduca Dead at 47

Cesar Manduca, CEO of the financial technology startup MR Presta, died July 3 of leukemia after seven months of illness, according to his co-founder Carlos Rosso.Rosso and Manduca — from Mexico and Venezuela, respectively — met while completing the MBA program at Yale University in the late 1990s. They both worked in New York City for different investment banks until they reconnected and formed MR Presta. The San Antonio-based small business loan startup provides financing to underserved small businesses in Latin America.Manduca graduated from the Yale School of Management in 2001, starting his financial career as vice president at Citigroup leading a team that developed a new credit default swap program for domestic Latin American sovereign debt marketed to U.S. investors. After a...
FloatMe App Links Workers to Paycheck Sooner for Less
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FloatMe App Links Workers to Paycheck Sooner for Less

Financial emergencies can happen anytime. When they do, a surprise expense that pops up in-between paychecks can trigger late fees from not paying bills on time, to mounting bank fees from over insufficient funds and overdraft fees, to exorbitant interest on payday loans.Founder Josh Sanchez experienced this when he had unexpected car expenses once and was short that week. After getting a payday loan for $200 that turned into a $250 payback balance after only two weeks, Sanchez started thinking of less expensive options to access money short term. His idea turned into FloatMe, an app that enables workers to get a “float” or short-term advance on their next paycheck without paying hefty fees or interest.Once Sanchez paid back his payday loan, he discovered the high costs for many de...