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Rapid Finance
American fintech company From Wikipedia, the free encyclopedia
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Rapid Finance is a financial services company that provides working capital to small and mid-sized businesses in the United States in a variety of industries and categories. It is a sister company to Rocket Mortgage. According to its website as of 2019, it is the 4th largest online small business lender in the United States with over US$1 billion funded.[2]
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History
The company was founded in 2005 as RapidAdvance[3] and headquartered in Bethesda, Maryland. It was acquired by Dan Gilbert's Rockbridge Growth Equity, LLC in 2013.[4] It is part of Rock Family of Companies that include the Cleveland Cavaliers, Fathead, Rocket Mortgage and Genius.[5] The company went through a rebrand in 2019, changing its name to Rapid Finance.[6]
In 2023, the company laid off 51 employees in its Detroit, Michigan facility.[7]
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References
External links
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