Host David Grisell conducted his initial interview with Robert Preville, CEO of APPROVE, in August 2022 (E28), during which Preville introduced his groundbreaking equipment financing marketplace, then known as Kwipped. In the past year, the company underwent a rebranding, adopting the name APPROVE, reflective of their leading revenue-generating offering. APPROVE operates as a finance marketplace for equipment leases and purchases, achieving an impressive revenue growth of approximately 100% year over year.
While still actively managing the equipment leasing marketplace, the APPROVE platform has evolved into their primary product. They now market it to vendors for integration into their own ecommerce sites as a virtual captive finance solution. Compensation is derived through a fixed take rate on each financing, establishing a stable and predictable income stream. Robert's strategic focus involves achieving an annual revenue milestone surpassing $20 million and positioning the company for potential acquisition. Furthermore, they remain open to additional fundraising and further growth as viable avenues for expansion.
Follow David on LinkedIn or reach out to David on Twitter/X @DGRollingSouth for comments. We invite your feedback and suggestions at ventureinthesouth.com or email david@ventureinthesouth.com. Learn more about RollingSouth at rollingsouth.vc or email david@rollingsouth.vc. Follow Paul on LinkedIn. Download our White Papers and Cheat Sheets HERE. Thanks for listening and remember: Our mission is to MAKE MONEY, HAVE FUN AND DO GOOD.
Host David Grisell conducted his initial interview with Robert Preville, CEO of APPROVE, in August 2022 (E28), during which Preville introduced his groundbreaking equipment financing marketplace, then known as Kwipped. In the past year, the company underwent a rebranding, adopting the name APPROVE, reflective of their leading revenue-generating offering. APPROVE operates as a finance marketplace for equipment leases and purchases, achieving an impressive revenue growth of approximately 100% year over year.
While still actively managing the equipment leasing marketplace, the APPROVE platform has evolved into their primary product. They now market it to vendors for integration into their own ecommerce sites as a virtual captive finance solution. Compensation is derived through a fixed take rate on each financing, establishing a stable and predictable income stream. Robert's strategic focus involves achieving an annual revenue milestone surpassing $20 million and positioning the company for potential acquisition. Furthermore, they remain open to additional fundraising and further growth as viable avenues for expansion.
Follow David on LinkedIn or reach out to David on Twitter/X @DGRollingSouth for comments. We invite your feedback and suggestions at ventureinthesouth.com or email david@ventureinthesouth.com. Learn more about RollingSouth at rollingsouth.vc or email david@rollingsouth.vc. Follow Paul on LinkedIn. Download our White Papers and Cheat Sheets HERE. Thanks for listening and remember: Our mission is to MAKE MONEY, HAVE FUN AND DO GOOD.