Tech Veteran Steve Swanson Joins SnapCap as Strategic Investor
CHARLESTON, S.C., Nov. 10, 2014 /PRNewswire/ -- SnapCap, a web-based alternative finance company based in Charleston, announced today that Automated Trading Desk Cofounder Steve Swanson will serve as a strategic investor in the expansion and growth of the company. Technology-driven and committed to investing in small business, SnapCap offers a better way to borrow by focusing on performance-based financing, which evaluates the health of a business, not just the business owner's credit score.
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"I'm very excited to invest in SnapCap and see many similarities to the early days of ATD," says Swanson. "By leveraging technology, SnapCap is able to quickly evaluate business loans in a fully automated fashion, turning loans around in hours rather than weeks as is common with today's traditional business loans. Just as ATD changed the nature of trading, I believe SnapCap will change the nature of business lending."
As a pioneer in the development of groundbreaking trading models and services, Swanson cofounded Automated Trading Desk in 1988, which has grown to become a major employer in Charleston and averages over 200 million trades a day. After merging the trading technology company into Citi in 2007, Swanson continued to shepherd and refine his brainchild as co-head of Citi's Global Electronic Trading Products and Services group. In addition to serving on the College of Charleston School of Business Board of Governors, Swanson has a distinguished track record of investing in highly successful businesses.
"We're extremely pleased to be working with Steve," says SnapCap Cofounder and President Hunter Stunzi. "His strategic leadership promises to give the company a big boost and increase its scale. With technology as a major driver of modern lending, SnapCap is well poised to benefit from Swanson's expertise building and managing tech-backed businesses."
About SnapCap
SnapCap is a web-based company that is helping lead a revolution in small business finance by reducing the complexities found in the traditional lending process. Committed to investing in small business, SnapCap offers a better way to borrow by focusing on performance-based financing, which evaluates the health of a business, not just the business owner's credit score. Personal service combined with real-time evaluation technology makes it easier to provide financing solutions with greater speed and accuracy. A single-source lender, SnapCap processes and funds most loans in less than 48 hours. Please visit www.snapcap.com
SOURCE SnapCap
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