ByzFunder NY LLC

Based in the US, ByzFunder NY LLC specializes in providing short-term financing solutions aimed at supporting small business growth across various sectors. ByzFunder NY LLC is engaged in offering financing solutions for small businesses. Founded in 2018, the company is headquartered in New York, US. The CEO, Ilya Fridman, leads the firm, which has completed one transaction to date, with the most recent deal occurring on March 31, 2021.

ByzFunder specializes in providing short-term financing solutions designed to support small business growth across the United States. Their core offerings include business funding ranging from USD 5,000 to USD 500,000, with the ability to secure these funds within 24 hours of application. ByzFunder’s services cater primarily to small business owners who have been operational for at least six months and generate a minimum of USD 10,000 in monthly revenue. The company employs a streamlined application process that eschews the need for extensive documentation and high credit scores, thereby making access to capital more inclusive.

ByzFunder primarily serves a broad spectrum of small businesses across various sectors within the U. S. market, aiming to provide flexible financing solutions that are tailored to individual business needs. ByzFunder's revenue model is centered around the provision of short-term business loans to small enterprises.

The company generates income through interest and fees associated with these loans. In typical transactions, a small business owner applying for funding would complete the straightforward application process, receive approval within 24 hours, and subsequently access funds on the same day. ByzFunder's financial services do not involve a subscription model; rather, they operate on a direct-to-consumer basis. Clients are charged based on the financing amounts they secure, with customizable repayment plans designed to align with the business’s cash flow.

These factors contribute to ByzFunder's ability to support its clients while maintaining a sustainable revenue structure. In March 2021, Old Hill Partners announced it would provide a USD 12 mn credit facility to support the growth of ByzFunder NY LLC. The funding will be utilized to expand its product offerings and enhance service efficiency. ByzFunder plans to introduce new financing products designed specifically for emerging market segments within the next year.

Additionally, the company is targeting expansion into new geographic regions, particularly focusing on the Southeastern US by the end of 2022, aiming to broaden their client base and enhance service delivery.