BROOKLYN, N.Y., April 12, 2017 /PRNewswire/ -- Fintech startup Quick announced the private beta launch of their financing platform aimed at small business owners in the beauty and wellness space.
Combining machine learning with human emotional intelligence and empathy, Quick aims to provide more personalized financing recommendations and more sustained rise adjusted returns than that provided by traditional lenders. For small business owners, that means lower rates and shorter approval times -- without the collateral requirements that are typical in the industry.
Quick originated from a Yale University project started by its founder, Ola Okeshola, a former Neuberger Berman VP. The function of Quick in the beginning was a scheduling and payment platform for businesses in the beauty and wellness industry. It eventually pivoted to its current path when the founder recognized a bigger need and opportunity. "It was pretty clear to us that business owners in beauty and wellness were getting passed over by traditional lenders," says founder Ola Okeshola. "So we wanted to build a platform that would fill in that gap."
Quick is a transformative Capital as a Service platform. Quick partners with SaaS providers that operate exclusively in the beauty and wellness space to identify business owners in need of a loan and gather data that can help them make more personalized loans.
"It's the 21st century, and the technology to provide these kinds of financing is out there, it's just not out there for this particular audience," observes Ola. "With Quick, our goal is to level the playing field and make sure that all business owners have access to the capital they need to meet their needs."
Quick is actively signing up SaaS partners to its private beta. The company projects it will disburse a minimum of $20M in small business funding in Y1 alone.
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