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KWIPPED Taps Balboa For Vendor Financing Options

By Ryan Haar, posted Jun 30, 2017
KWIPPED, a Wilmington-headquartered technology company, has picked California-based Balboa Capital to support its nationwide network of equipment rental suppliers with custom financing solutions for its customers, according to a recent news release.

KWIPPED, an online B2B equipment rental marketplace, will utilize Balboa Capital’s proprietary lending technology, large lending capacity and streamlined equipment financing process to allow for same-day funding of up to $250,000, stated the release.

The Wilmington company also recently announced that it got investment funding this month from Johnson City, Tennessee-based The Angel Roundtable, an early stage angel investor network.

The announcement did not include the funding amount. Officials for KWIPPED, which formed in 2014, said the company has received a total $755,000 in investment dollars to date.

With the new funding, the startup plans to expand its sales staff, said Robert Preville, KWIPPED’s co-founder and CEO, adding that the company has seen about 180 percent more revenue in the first half of the year – up to June 20 – compared to all of last year.

Preville owns the Greater Wilmington Business Journal with publisher Rob Kaiser. Preville and Kaiser are part owners of KWIPPED.

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