NEW YORK--(BUSINESS WIRE)--Credibly, a tech and data-inspired lending platform that makes access to capital for small businesses simple and intuitive, announced today a partnership with JetPay Payment Services, a division of JetPay Corporation (NASDAQ:JTPY), a leading provider of debit and credit card processing services. The partnership gives JetPay’s distribution network streamlined access to Credibly’s lending platform, providing more capital for their U.S.-based small business clients.
“At Credibly, we believe all businesses deserve access to right-sized capital, and our partnership with JetPay makes good on our mission to provide that access to as many entrepreneurs as possible,” said Ryan Rosett, Founder and Chief Revenue Officer of Credibly. “We’re thrilled to partner with JetPay, and help their distribution partners deliver more affordable capital to small businesses.”
As an online lending platform delivering a broad range of short- and long-term capital to satisfy the entire SMB credit spectrum, Credibly has provided access to capital for more than 4,500 businesses in over 300 industries. In the past year alone, the company has increased revenue 100%, was recognized by Crain’s as one of the 50 fastest growing companies in New York, and made its second consecutive appearance on the Inc. 500 list of the fastest growing private companies in America.
“JetPay’s objective is to get our customers the payment processing and capital solutions they need while connecting them with partners who can deliver those solutions efficiently," said Paul Compton, Executive Vice President and National Sales Director for JetPay Payment Services. “The integration of JetPay’s distribution network and Credibly's customer-centric lending process will enable even more small businesses to obtain the capital they need to thrive.”
Flexpoint Ford, LLC, a private equity firm that specializes in the financial services and healthcare sectors, is an investor in both JetPay Corporation and Credibly. Steven Begleiter, Managing Director at Flexpoint Ford, added: “We are thrilled to see Credibly and JetPay join forces. We have a longstanding relationship with both teams and fully expect that JetPay’s existing partner network coupled with Credibly’s strong sales infrastructure will deliver impressive results for our investors.”
Founded in 2010 and with offices in Michigan, Arizona, Massachusetts, and New York, Credibly is a best-in-class Fintech platform that leverages data science and analytics to improve the speed, cost, and choice of capital available to small businesses in the United States. Credibly is dedicated to creating a superior borrowing experience that meets the needs of all small businesses, regardless of product need or credit profile. All loans obtained through Credibly are made by WebBank, a Utah-chartered industrial bank, member FDIC. For more information, visit www.credibly.com.
About JetPay Corporation
JetPay Corporation, based in Berwyn, PA, is a leading provider of vertically integrated solutions for businesses including card acceptance, processing, payroll, payroll tax filing and other financial transactions. JetPay provides a one vendor solution for payment services, debit and credit card processing, ACH services, and payroll and tax processing needs for businesses throughout the United States. The Company also offers low-cost payment choices for the employees of these businesses to replace costly alternatives. The Company's vertically aligned services provide customers with convenience and increased revenues by lowering payments-related costs and by designing innovative, customized solutions for internet, mobile, and cloud-based payments. For more information, visit www.jetpay.com.