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SMB Finance + Neo Banking

Company Type

FinTech-Alternative Lending and Payments Platform


$2-$5 Million Late Seed Equity+ $7.5 Million to Support Warehouse Facility

Investment Type

Warehouse Credit Facility Subordinate Credit Tranche, Equity


Finovance is raising up to $15.0 million allocated in two separate capital tranches as follows:

1. $2.0 to $5.0 million Late Seed Equity for working capital and general corporate purposes
2. $7.5 million subordinate credit tranche:
     • to leverage the $25 million warehouse credit line¹
     • warehouse line can grow to $50 million

• Offering SMBs full life cycle of growth capital (see Solution/Strategy)

• Initially offering forward-factor financing (or revenue-based financing “RBF”) of future receivables ranging from $30,000 to $2.0 million

• Grasshopper Bank strategic BaaS partnership in place:
     • FDIC insured accounts up to $250,000
     • Debit/Virtual cards “payments.” (interchange fee opportunity)

(1) Credit facility subject to complete due diligence and customary closing conditions

Why now, why Finovance?


Market Opportunity

Large underserved market

Solution / Strategy

More Robust RBF Solutions

  • High return opportunity – avg target RBF factor rate of 1.5x – 1.65x
  • Initially targeting RBF financings from $30,000 to $2 million
  • Ability to offer diverse and longer payment terms of 3 to 60 months
  • Customized and dynamic pricing, offering either a fixed or variable repayment option
  • Rapid AI assisted underwriting – in some case minutes
  • No blanket lien on assets or guarantees
  • Offer “white labeled” banking products and services via our banking partner


Manuel Henriquez| Co-Founder, Co-Chairman, and Co-CEO

  • Serial entrepreneur, having founded or co-founded six prior ventures
  • Founder and former Chairman, President and CEO, Hercules Capital (NYSE:  HTGC, $2.0 B mkt cap); raised over $3 Billion and distributed approximately $1.0 Billion to shareholders
  • Partner, VantagePoint Venture Partners, a $2.5 billion multi-stage technology venture fund (2000-2003)
  • President and Chief Investment Officer, Comdisco Ventures, a division of Comdisco, Inc., a leading technology, and financial services company (1997-2000)
  • Vice President, Crosslink Capital; FKA Omega Ventures – Robertson Stephens (1994-1997)
  • Director of Finance and Operations, ON Technology, a Kleiner Perkins backed software startup (1991-1994)
  • Lucile Packard Foundation for Children’s Health, the sole fundraising entity for Lucile Packard Children’s Hospital and the child health programs at Stanford University School of Medicine.

Craig Schmeizer | Co-Founder, Co-Chairman, and Co-CEO

  • Co-founder and Co-CEO,, a consumer business operating in five international markets
  • Founder, Idle Group, a consolidator of D2C sleep brands including Idle Sleep, Haven, and Mend Sleep
  • Co-founder, Resident, named the fastest growing e-commerce retailer in North America by Digital Commerce 360 in 2018
  • EVP Marketing, JP Morgan Chase Bank, credit card division
  • SVP and Division COO, Altisource, a large mortgage servicing tech firm
  • SVP Marketing, Providian Financial
  • Corporate Vice President, The New York Life Insurance Company, responsible for International (China, India, Mexico, Taiwan).
  • VP, HSBC, credit card marketing
  • Co-Chair, Direct Marketing Association’s International council

Gavin Conway| Co-Founder, Chief Product Officer “CPO”

  • Entrepreneurial ecommerce expert, with deep technical, analytical, and commercial expertise, with 18+ years of original and unique B2B and B2C product and digital marketing leadership for cross sector brands including Airbnb, Google and Virgin Group
  • Chief Growth Officer, GrowthShop, leading a team of 30+ engineers, UX designers and product growth specialist (2020-2023)
  • Independent Consultant, delivering digital growth and transformation services for clients that included edtech, social content, crypto-finance, technology recruiting and B2B SaaS businesses (2017-2020)
  • Head of Growth Marketing and Digital Innovation, Omnicom Media Group (2008 – 2016)

Tayo Dayo| Chief Technical Officer “CTO”

  • Responsible for architectural design of Finovance platform including IT governance; compliance with NIST, ISO27001, Cyber Essentials and Cyber Essential Plus best practice deployment
  • Interim CTO / IT consultant for over 30 years across a spectrum of clients and projects
  • Noted public speaker on IT security, FinTech, Infrastructure, Ethical Hacking, and EU’s General Data Protection Regulation (“GDPR”)
  • Proven history of leading design and development of IT projects from inception to completion.
Learn More About Finovance
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Hi. We're not around right now. But you can send us an email and we'll get back to you, asap.

Thanks, Ken

Ken Margolis | Managing Partner Castle Placement, LLC
1460 Broadway Street, Rte 400
New York, New York 10036
(212) 418-1188 | C: (516) 712-7784