BizEquity brings Valuation-as-a-Service to TD Bank
BizEquity just signed its first – really big – bank. TD Bank has partnered with the online business valuation firm to provide SMEs across the country with real-time insights into fair market, enterprise, and liquidation values based on current market conditions, reports David Penn at Finovate.
Relationship managers at TD Bank use BizEquity’s technology to produce valuation and industry KPI reports, and then share them with business owners to help them create succession plans, formulate tax planning strategies, and explore funding and M&A opportunities.
BizEquity founder and CEO Michael M. Carter says: “Together, we are helping to democratise this important knowledge for small and mid-size business owners from Maine to Florida.”
BizEquity, developer of Valuation-as-a-Service (VaaS) and the VaaS Business Valuation Cloud, enables companies to produce a customised valuation performance report that gives SME owners insights into business valuation data as well as industry comparisons in 40 KPIs.
BizEquity’s more than 500 financial services clients include KPMG, Mass Mutual Financial Group, and Mutual of Omaha; as well as Experian, Xero, and Equifax. TD Bank represents BizEquity’s first and only top ten US bank partner.
With headquarters in Wayne, Pennsylvania and offices in Tower Hamlets, London, Biz Equity was founded in 2010. The company began the year announcing an agreement with Windfall Data, in which the consumer financial data company will offer its wealth data on the BizEquity platform.
BizEquity has raised $5.1 million in funding, courtesy of an investment from London-based venture capital firm, Frost Brooks.
Operating in the US northeast and mid-Atlantic regions, as well as metropolitan DC, the Carolinas, and Florida, TD Bank is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada.
