News & Press
San Francisco, August 18, 2015 -- ApplePie Capital, the first marketplace lender solely dedicated to the franchise industry, today announced that it has appointed Jeff Zinn as Head of Capital Markets. Jeff comes to ApplePie Capital from Jefferies & Company, a global investment bank and institutional securities firm, where he served as Managing Director, specializing in structured product sales since 2011.
The Great Recession was a catalyst for significant change in the franchise world. When banks stopped authorizing loans, potential franchisees began looking at alternative sources of startup money, including crowdfunding and accessing their 401(k) accounts.
While the availability of credit for small businesses has improved, alternative methods of financing are now firmly part of the funding landscape. One of those comes courtesy of San Francisco-based ApplePie Capital, a franchise loan marketplace that turns crowdsourcing on its head.
In the post-recession years, many small businesses still struggle to get approved for bank loans — their credit may not be perfect, or they need an amount too small to interest a bank. Online alternative lenders have stepped in to fill the gap for restaurant franchisees.
ApplePie Capital launched in January 2015 and exclusively funds franchisees. First, they must vet a franchise brand before lending to a franchisee, says CEO Denise Thomas.
18 Brands Now Participating At Leading Marketplace For Franchise Loans
San Francisco, July 10, 2015 – ApplePie Capital, the first marketplace lender solely dedicated to the franchise industry, today announced new partnership agreements with 101 Mobility, Metal Supermarkets, Massage Green Spa, and The Brass Tap.
The partnerships streamline the financing process for franchisees, enabling them to access loans of $100,000 to $1,000,0000 in 30 days or less to start, expand, remodel, refinance, or recapitalize their businesses. ApplePie Capital then offers individual and institutional investors seeking attractive fixed-income returns the ability to invest in those loans through their franchise loan marketplace.
Fourteen Franchisors Now Participating At Leading Marketplace For Franchise Loans
San Francisco, May 20, 2015 – ApplePie Capital, the first marketplace lender solely dedicated to the franchise industry, today announced partnership agreements with Tropical Smoothie Café, Wetzel’s Pretzels and 18|8 Fine Men’s Salons. The new partnerships enable ApplePie Capital to provide efficient funding in 30 days or less for qualified franchisee borrowers to start, expand, remodel, refinance, or recapitalize their business.
Prosper Marketplace President Ron Suber personally invested in San Francisco-based ApplePie Capital's latest round that raised $6 million. ApplePie's financing was led by Signia Venture Partners, with Freestyle Capital and QED Investors participating. QED also backed Prosper and LendUp. When you see some of the most successful people and venture firms stepping up to back ApplePie Capital, it signals that the startup is on to something big.
ApplePie Capital Raises $6 Million In Series A Funding and $28 Million in Debt Capital Commitments to Fund Franchise Loans
San Francisco, April 9, 2015 – ApplePie Capital, the first marketplace lender solely dedicated to the franchise industry, today announced it has closed a $6 million Series A round led by Signia Venture Partners, with participation from Freestyle Capital and QED Investors. Also investing in the round is Ron Suber, President of Prosper, a leading consumer lending marketplace.
ApplePie Capital also announced that it has raised more than $28 million in debt capital commitments from institutional and individual investors to fund franchise loans. ApplePie Capital originates loans to franchise entrepreneurs and offers loans to investors in whole or fractionally on its franchise loan marketplace.
The Series A round, together with the debt capital commitment, will accelerate ApplePie Capital’s rapid growth and strengthen its position as the preeminent marketplace lender for the franchise industry.
Franchise Loan Funder ApplePie Capital Raises $6 Million in Series A. Receives $28 Million in Debt Commitments
San Francisco based ApplePie Capital, an internet funding portal that wants to “democratize access to capital and help franchise entrepreneurs achieve their dream” has raised $6 million in a Series A funding round as the stampede to invest in the future of finance continues. ApplePie also said they had received $28 million in debt capital from both individuals and institutions to fund franchise loans. ApplePie Capital has now raised nearly $10 million in equity capital for its growth and operations. In July, the company raised $3.77 million in a seed round led by Freestyle Capital, with contributions from Signia Venture Partners, QED Investors, and angel investors.
As online lending platforms gain momentum in the financial world, new startup ApplePie Capital Inc. told Venture Capital Dispatch it raised $6 million in Series A funds for its service. It also received $28 million as a pool of debt capital to use for issuing loans.
The San Francisco-based company offers an alternative source of loans for a particular type of small business, franchisees, which represents around $500 billion of U.S. gross domestic product annually.
Borrowers can come to its website and get loans quickly and on good terms, while lenders can find good returns, according to Denise Thomas, ApplePie’s co-founder and chief executive.
ApplePie Capital, which began offering a new, innovative source of franchisee funding earlier this year, has announced three new brands, marking 11 brands now participating in its franchise loan marketplace. The three new brands are Brain Balance Achievement Centers, Brightway Insurance, and Capriotti's Sandwich Shop. ApplePie had previously announced AdvantaClean, Einstein Bros. Bagels, Fast-Fix Jewelry and Watch Repair, Marco's Pizza, Nothing Bundt Cakes, Phenix Salon Suites, RNR Tire Express, and Sola Salon Studios.
The impetus behind the company's formation was to provide a franchise loan marketplace that connects franchisees in need of capital with investors seeking fixed-income returns by investing in operators of proven franchise brands. ApplePie combines the emerging concept of peer-to-peer lending with its own capital from institutional and individual qualified investors. Loan amounts range from $100,000 to $1 million.