Print
Banking & Finance

Live Oak Ventures Invests In KWIPPED

By Johanna Cano, posted Jan 7, 2019
Live Oak Ventures has invested an undisclosed amount in KWIPPED Inc., which will be used by the B2B company to bring in new talent and add suppliers to meet consumer demand.

“With their robust fintech expertise, forward-thinking leadership and proven track record for success, Live Oak Ventures is perfectly aligned to support our growth objectives and we are both humbled and thrilled to have them lead on our Series A round,” said Robert Preville, CEO of KWIPPED, in a news release.

Wolfpack Investor Network, based in North Carolina, Venture South and The Angel Roundtable, participated alongside Live Oak Ventures in the investment.

KWIPPED is currently engaged in numerous conversations with other potential investors and intends to complete the current investment round, said Preville in an email Monday.

KWIPPED is a Wilmington-based business-to-business equipment rental and leasing marketplace. The company recently moved to a bigger space in downtown Wilmington.

“Our business is growing rapidly, and we are expanding our staff as we scale,” Preville said. “Our recent round of funding, led by Live Oak Ventures, has given us the resources to execute an exciting growth plan. We are currently hiring and our new office space at 228 N. Front St, Suite 202, will accommodate this expansion.”

Live Oak Ventures (briefly renamed Canapi Inc.) is a Live Oak Bancshares subsidiary that aims to invest in companies using and developing next-generation platforms to provide new solutions at scale, quickly and efficiently, stated the release.

“Our focus is to invest in cutting-edge companies, and KWIPPED has tremendous opportunity to leverage technology to feed an unmet demand in the highly fragmented rental and leasing markets,” Timur Davis, Live Oak Ventures principal, said in a news release. “We believe KWIPPED has the ability and expertise to scale their business in a rapidly growing market with immense potential.”

Live Oak Bancshares launched Live Oak Ventures, a fintech-focused company, in February and named Davis as the principal in May.

KWIPPED has raised $852,309 in funding since 2017, according to two filings with the U.S. Securities and Exchange Commission. An SEC filing for the Live Oak Ventures investment was not available as of Monday afternoon.

(Preville and Rob Kaiser are part owners of KWIPPED. Preville is part owner of the Greater Wilmington Business Journal along with Kaiser, who is also the Business Journal's publisher.)
Ico insights

INSIGHTS

SPONSORS' CONTENT
Carolinemontgomery4

Up-to-Date and Accurate Books

Caroline Montgomery - Adam Shay CPA, PLLC
Natalieenglish 3301715113

Advocacy: The Heart of the Chamber

Natalie English - Wilmington Chamber of Commerce
Aaeaaqaaaaaaaaidaaaajdhiztrkodm0lte2yjetngrkmy1hotrmltawmdvlmwqyztmymw

Connect with Resilient Coastal Living

Diane Durance - UNCW Center for Innovation and Entrepreneurship

Trending News

Three Startups Mark Growth By Moving Out Of TekMountain

Johanna Cano - Oct 17, 2019

Commercial Real Estate Firm Moves To New Office Space

Cece Nunn - Oct 18, 2019

Student Housing Project Scheduled For 2020 Completion

Johanna Cano - Oct 18, 2019

Downtown Art Gallery Hosts Artist Co-op Concept

Christina Haley O'Neal - Oct 17, 2019

Streamlining Real Estate

Johanna Cano - Oct 18, 2019

In The Current Issue


Signs Of Change?

Nearly three months after New Hanover County and NHRMC officials announced that they wanted to solicit offers for the county-owned hospital...


Book On Business

The 2019 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

August 26, 2019 Power Breakfast: A Healthy Sale?
WILMA's Leadership Accelerator
2019 WilmingtonBiz Expo Keynote Lunch - CEO, nCino, Pierre Naude`