LOS ANGELES, May 11 2021 /PRNewswire/ -- ENDEAVOUR, a leading Department of Defense Trusted Capital Provider of Accounts Receivable Funding for National Security and Space government contractors, has formed a strategic partnership with MassChallenge, the highly-regarded non-profit, zero-equity accelerator network dedicated to supporting innovation and entrepreneurship through collaboration and development.
Beginning with MassChallenge's Air Force Lab, Space Commercialization and Safety and Security programs, the new partnership enables Endeavour to provide past, present, and future MassChallenge alumni access to a custom Accounts Receivable Funding facility deemed "Escape Velocity". Designed for innovative early-stage and growing technology companies, Escape Velocity was developed to further support the Department of Defense, Intelligence Community, and the burgeoning commercial space industry.
"MassChallenge's connectivity, particularly within the US Air Force's AFWERX program, will help Endeavour expand our footprint as we look to capitalize on the growing demand for our working capital management tools," said Endeavour Co-founder James Parker.
"MassChallenge has accelerated 2,900 startups, that have generated $3.6B in revenue and raised $8.6B in funding. Most importantly, their alumni have generated over 186,000 jobs, all while tackling the biggest challenges of our time. This partnership is another step in our roadmap to growing our leadership position in the market and ensuring that our industry-best solutions are in the hands of all those who are working in the service of National Security," added Endeavour Co-founder Chris Lay.
Endeavour is a financial services platform supporting US Federal Government contractors. As an official Department of Defense Trusted Capital Provider, Endeavour offers cash funding for unpaid invoices up to $10,000,000. The company can help companies improve their working capital position to help finance growth strategies and manage operating expenses.
Additionally, Endeavour contributes 50% of net profits to Mission Oriented charitable causes. Learn more about ENDEAVOUR at www.endeavourar.com.
MassChallenge is the global network for innovators. Headquartered in the United States with seven locations worldwide, MassChallenge equips bold entrepreneurs to disrupt the status quo and to create meaningful change. Since launching in 2009, more than 2,900 MassChallenge alumni have raised more than $8.6B in funding, generated more than $3.6B in revenue, and created more than 186,000 total jobs. Learn more about MassChallenge at masschallenge.org.