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Leading Lending-Based Crowdfunding Site Elects Krista Morgan as New Chief Executive Officer

6 Jan

G. Krista Morgan elected by the P2Bi Board of Directors to become the next CEO of the Denver-based crowdfunding platform for business lending

By Robert Hoskins

Denver, CO – P2Binvestor (P2Bi) announced that cofounder Bruce Morgan stepped down as CEO at the Denver-based financial technology company to take the position of executive vice chairman on its board. Cofounder and former President G. Krista Morgan was elected by the P2Bi Board of Directors to become the next CEO effective January 5, 2015. The father-daughter team cofounded P2Bi in 2012, developed a crowdfunding platform to deliver working capital to growing businesses, and started lending in early 2014.

Krista Morgan Named CEO of Commercial Crowdfunding Company P2Binvestor

Krista Morgan Named CEO of Commercial Crowdlending Company P2Binvestor based in Denver, CO

By combining technology with crowdsourcing, P2Bi simplifies lending and provides efficient and competitively priced growth capital to small and midsize businesses. The company offers receivables financing, an asset-backed line of credit, working capital secured by contractual future revenue (designed especially for SaaS companies), and purchase order financing.

P2Bi has the capacity to consider multi-million dollar credit lines and lends to U.S. companies in various industries including technology, energy, personnel services, natural foods and beverages, manufacturing, and more. P2Bi’s investor crowd is limited to accredited investor participation. Learn more at P2Bi.com.

“The tremendous growth of P2Binvestor is in large part due to Krista’s diligence in building a new and different company with a competitive product, a superior culture, and an inherent focus on customers,” said John Spiers, P2Bi’s chairman. “She is a natural entrepreneur and leader, and her innovative ideas, energy, commitment to transparency, and passion for helping small businesses grow are unparalleled.”

Krista is a proven executive in alternative finance while also being one of the youngest women in a leadership position in the industry. She left an agency career in digital marketing in London to cofound P2Bi in Colorado in 2012. Since signing the company’s first client in May 2014, she has grown P2Bi’s commercial loan portfolio to $12.5 million, representing 30% month-over-month growth. P2Bi uses invoices to secure most credit lines and in just seven months’ time purchased more than $37 million in invoices.

“Over the past three years, Krista has demonstrated her leadership and strategic skills as she created a strong brand and broad market appeal for P2Bi,” said Bruce Morgan, former CEO and now executive vice chairman of P2Bi. “She created a modern crowdfunding approach to working-capital financing that appeals to a diverse generation of entrepreneurs who aren’t typical users of alternative finance.”

Krista was a key driver in establishing P2Bi’s customer-friendly policies, such as eliminating monthly minimums, minimizing transaction costs for clients, and implementing daily clearing of client accounts to improve their cash flow. She also created a rate-guarantee policy that allows clients to cancel their contracts with P2Bi without penalty if they find less-expensive financing. Krista felt policies like the rate guarantee would make it easier for P2Bi to build mutually beneficial alignment with its banking partners while meeting the needs of its fast-growing business clients.

“We view it as a mark of success when our customers are offered a line of credit at a great rate with a bank. Our financing is designed to be a bridge that supports businesses through a high-growth phase on their way to being bankable,” Krista said. “We pride ourselves in giving our clients as much capital as they need to grow at the most competitive rates with the best service. We want to be a great lending partner for as long as it makes sense.”

Under Krista’s operational leadership, P2Bi transformed from a startup into a revenue-producing player in the alternative-lending and crowdfunding industries. With news of the recent Lending Club IPO, P2Bi is attracting more interest from businesses, investors, and others in the industry.

“My goal as CEO is to put our customers—both businesses and investors—at the center of every decision we make and position P2Bi for long-term success. I want to make P2Bi a company that businesses think of first when they need a flexible, affordable source of working capital and one that accredited investors think of first when they want an alternative investment vehicle that offers fair returns and good liquidity,” Krista said. “I’m honored to be leading an incredible team into the next phase of our company’s growth.”

As executive vice chairman, outgoing CEO Bruce Morgan will remain an active part of the management team and will be responsible for managing relationships with fund managers and leading the company’s credit underwriting function.

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Velocity Kick Rolls Out Powerful New Marketing, Social Media Tool for Crowdfunding Platforms

10 Mar

Entrepreneurs, startups, academics and non-profits can use this social media scoring tool/CRM software tools to streamline crowdfunding campaign outreach and improve efforts to collect the first 30% of fundraising

By Robert Hoskins

Velocity Kick is cool a new marketing service that every crowdfunding platform should take a look at.   To date, the team has assimilated a lot of cool marketing tools and has built a pretty advanced back-end.  They are now running their final fundraising campaign on the new Ramen crowdfunding platform to fund the development of its GUI front-end interface. The campaign profile has $75 perks for individual campaign managers as well as $2,000 perks for crowdfunding platforms that will deliver 12-months of service. But you better hurry, their perks are almost all gone!

Velocity Kick's tools significantly reduce the time spent organizing contacts and prioritizing messaging, making it easy to undertake crowdfunding efforts.

Velocity Kick’s tools significantly reduce the time spent organizing contacts and prioritizing messaging, making it easy to undertake crowdfunding efforts.

Velocity Kick is one of the first purpose-built integrated marketing solution for crowdfunding aimed at improving campaign results.  With Velocity Kick, duplicated outreach is reduced and contact lists are sorted into groups, making unique, almost personalized message-targeting easy.  Velocity Kick’s first generation web app/service aggregates contacts from the address books and social networks of team members working on the same project and quickly merges and organizes them for use in campaigns.  Velocity Kick is currently running a $15,000 campaign of its own on the LAUNCH Hackathon winning platform, Ramen.

Now only 15 days in, Velocity Kick has raised $10,837 or 72% of its $15,000 goal, placing it comparatively in the Top 10% of projects successfully raised at Kickstarter, the largest crowdfunding platform in the industry.

Since announcing its own campaign, the company has attracted partners with non-profit organizations, venture capitalists and creatives currently managing campaigns.

“We’re already seeing money stream in from entrepreneurs who have run successful campaigns and their comments are all the same,” said Josh Baylin, the founder of Velocity Kick.  “They all wish they had these tools helping them reduce preparation time significantly.”

Upon completion of its own campaign, Velocity Kick’s planning tools and data-driven strategic outreach assistance will be only a few clicks away for campaign managers across the globe and across multiple platforms. Initially, Velocity Kick will be supporting campaign managers with targeted lists and data-driven campaign strategy insights.

“Our platform is going to be focused on improving the planning and campaign life-cycle of potential backers, news media and key influencers,” said Baylin.  “Already, we’ve got relationships in place with accelerators, crowdfunding platforms and campaign managers alike.”

Right now Velocity Kick is focused on “rewards” campaigns, or those hosted by platforms like Kickstarter, Indiegogo or others.  Ultimately, Velocity Kick believes campaign managers who are passionate about their projects and the vision should be focused on connecting with their core audiences.  And so it’s tool set is designed at improving how quickly campaign managers can find and reach that audience.

“Velocity Kick is crowdfunding made simple,” said Andy Abramson, CEO of Comunicano, the Del Mar, CA based value-creation communications agency. “Being able to automate and properly manage the communications efforts more quickly, means funding gets done faster, leaving more time for developers and entrepreneurs to make a great product.”

Velocity Kick will make its money charging users a fee for more advanced list building and reporting tools.

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