Daily News: November 16, 2018

Biz2Credit Again Ranks on Deloitte 2018 Technology Fast 500 List


Biz2Credit ranked No. 335 on Deloitte’s Technology Fast 500, a list of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America.

Biz2Credit CEO Rohit Arora credits rapid advances in technology and a track record of success in the fintech small business lending space with the company’s 242% revenue growth.

“It is an honor to again be recognized among the Fast 500 winners in 2018,” said Rohit Arora, who co-founded the company with his brother, Ramit, in 2007. “Being in this list is a testament to the hard work of everyone at Biz2Credit not only during the past year, but also through our entire decade of growth.”

“Congratulations to the Fast 500 winners on this impressive achievement,” said Sandra Shirai, vice chairman, Deloitte, and U.S. TMT leader. “These companies are innovators who have converted their disruptive ideas into products, services and experiences that can captivate new customers and drive remarkable growth.”

The software innovations have been a main driver of the New York City-based fintech provider’s growth. Biz2Credit’s small business lending platform uses artificial intelligence and predictive risk analytics to deliver more accurate lending decisions for banks and financial institutions lending to SMBs.

Biz2Credit previously ranked 173 as a Technology Fast 500 award winner for 2017.

Overall, 2018 Technology Fast 500 companies achieved revenue growth ranging from 143% to 77,260% from 2014 to 2017, with median growth of 412%.

In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least $50,000 and current-year operating revenues of at least $5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.