Apruve Smooths Out The Supply Chain By Extending Lines Of Credit

The Benzinga Global Fintech Awards are a yearly showcase of the best and brightest in fintech. In preparation for its biggest installment yet in May 2018, we're profiling the companies competing for the BZ Awards.

Our next feature is on Apruve.

What does your company do? What unique problem does it solve?

Matt Osborn, senior marketing manager: Apruve automates the process of extending credit to your business buyers. Our software approves new customers for a line of credit in real time and finances every order placed in 24 hours so suppliers carry no lending risk while their customers still get extended payment terms. With Apruve, companies can use payment terms as a successful sales tool without the risk, slow cash flow, or overhead.

Who are your customers?

Our customers are businesses receive a lot of repeat orders from other companies. These businesses are commonly manufacturers, wholesalers, distributors or service providers.

How long have you been in business?

We have been selling our current offering since early 2016, but the company was established in 2013.

Where are you located?

Minneapolis, Minnesota

Who is your company's leadership? What kind of experience do they have?

Michael Noble is our CEO. He was a part of the P2P file sharing company Lime Wire as well as an executive at Xanboo, a wireless networking company that was acquired by AT&T.  Dave Onnen, our CTO, bring a mix of startup and corporate software development, with stints at Hotel Insider, Federal Tax Authority, Express Scripts and Wells Fargo.

Who are your investors, if any?

Our primary investors are TTV Capital and Allegis Capital.

Is there anything else Benzinga should know about your company?

B2B can be complex. Apruve is designed to simplify these complexities to make getting paid as easy as accepting a credit card.