Company Research Report: APPROVE

Company Overview

• Name: APPROVE

• Mission: To leverage technology and a relentless pursuit of innovation to transform and advance equipment sellers' delivery of equipment financing and B2B payment options to their customers.

• Founded: The APPROVE platform was officially launched in 2020.

• Founder: Robert Preville

• Key People:

• Robert Preville - Founder & CEO

• Charlie Dickinson - VP of APPROVE

• Robin Salter - Chief Marketing Officer

• Wellington Souza - CTO

• Jordan Cain - COO

• Jim Howard, CLFP - VP of Finance Operations

• James Tritten - VP of KWIPPED

• Headquarters: 300 N. 3rd St, Suite 500, Wilmington, NC 28401

• Number of Employees: Over 30, with plans for expansion

• Revenue: No information is available

• Known For: APPROVE is known for its innovative and technology-driven approach to equipment financing, offering an all-in-one platform for B2B equipment sellers to embed financing options into their sales processes.

Products

• B2B Equipment Financing Platform: APPROVE provides a comprehensive, technology-based platform for embedding financing estimates and applications directly into product pages, emails, and point-of-sale systems.

• Key Features:

• Quote Integration: Seamlessly includes estimated monthly finance payments on every quote.

• Website Financing Application Plug-in: Allows customers to apply for financing directly on product pages.

• Application Link Generator: Enables creating itemized finance applications to include in various communications.

• In-Store Point-of-Sale Financing: Offers hardware solutions like QR codes for immediate financing applications.

• Trade Show Applications: QR codes allow quick applications on trade show floors.

• Lender Network: Curated network of equipment lenders offering competitive rates by competing for business.

Recent Developments

• Industry Recognition: Since its launch, APPROVE has received multiple awards for technology, disruption, and innovation.

• Investment and Growth: Has secured over $5 million in investment funding and is rapidly scaling as one of the fastest-growing equipment financing companies in the US.

• Headquarters Relocation: Relocated to a new headquarters space to accommodate rapid growth in Wilmington, NC.

• New Features:

• Automated Financing Approvals: Enabled via an API allowing instant approval in seconds.

• OEM Virtual Captive Finance Program: For manufacturers to offer custom-branded finance solutions.

• Awards and Recognition: Recognized by Monitor Daily as one of the most innovative companies in 2023.

Summary

APPROVE stands as a disruptor in the B2B equipment financing industry with a strong focus on technological innovation and customer-centric solutions. By embedding a unique financing platform across various sales channels, APPROVE facilitates a smoother sales process and enhances customer experience. The company continues to distinguish itself through strategic growth, innovative product offerings, and significant industry accolades.