Out of stealth mode, into the light.

Until yesterday, APiO has been content to labor quietly from the co-working confines of Salt Mine, flying under the radar in stealth mode, building out a financial solution for small- to medium-sized businesses (SMBs).

Stealth mode is no more, with APiO announcing the close of a $2.5 million seed round from private investors. The solution is still young, but the future is bright…

According to World Bank, there are over 365 million small- to medium-sized businesses around the globe, and most of these firms struggle on a regular basis with cash flow,” said William Borghetti, APiO Founder and CEO. “In fact, one recent study suggests that 7 out of 10 small business fail even though they are profitable on an accrual basis. One ‘obvious’ recourse for these enterprises is to turn to banks for short-term loans. But here in the U.S., it takes 33 hours on average for an entrepreneur to apply for a single bank loan, and only 1 in 10 qualify for such loans. The bottom line is that short-term capital options for SMBs are very limited in the U.S., and we at APiO plan to change that.”

For SMBs, finding access to capital is a problem older than time. APiO is in the early stages — no really, they’re essentially hiring for just about every position — of building a solution that combines elements of nearly every financial technology, including artificial intelligence, machine learning, data integration, and blockchaining. With a seed round now locked in place, APiO’s vision is close to being realized.

subscribe

You’ve successfully subscribed to Silicon Slopes Newsroom
Welcome back! You’ve successfully signed in.
Great! You’ve successfully signed up.
Your link has expired
Success! Check your email for magic link to sign-in.