Profession: Co-founders of Bolstr.com, a small business marketplace lending platform
Age: Larry Baker, 30 / Charlie Tribbett, 31
One word that describes you: Driven
According to a report from Accenture, global venture capital investment in financial technology has increased 223% over the past five years, starting at $930 million in 2008, and climbing to nearly $3 billion in 2014. Larry Baker and Charlie Tribbett, co-founders of Bolstr, are poised to capture their share of the financial-tech market. Founded in 2011, Bolstr has reinvented the fundraising process for small businesses by creating a marketplace where small business can access capital more efficiently. Once a business gets through Bolstr’s stringent credit underwriting process, accredited investors have the opportunity to invest in these small companies and earn healthy returns based on monthly revenue based payouts. Bolster provides the opportunity for small businesses to secure the capital they need in order to prosper, while providing investors a unique opportunity for attractive return.
“Our inspiration for starting Bolstr.com came from frustration with the status quo,” the Bolstr team tells BE Modern Man. “With increased regulation, and outdated origination processes, banks are simply unable to lend to small businesses. This has created an enormous access to the capital gap that is starving America’s small businesses. We wanted to create a financing option for small businesses that allowed them to access capital in an efficient, and flexible way.” By dedicating the same amount of time that they devoted to their careers in finance, the team knew that there was no way they couldn’t be successful.
Read more about Baker and Tribbett’s take on entrepreneurship…