Company Also Surpassed $1 Billion in Loans Funded Since Launch
DENVER, May 24, 2019 /PRNewswire/ -- P2Binvestor (P2Bi), a leading marketplace lending platform that offers crowdsourced, asset-secured lines of credit to growing companies, announced today that it has elected Daniel Frydenlund as Executive Chairman of the Board, succeeding John Spiers, who previously held the title. Spiers will remain on the board as a member. As executive chairman, Frydenlund will be primarily responsible for assisting in building corporate strategy, including management restructure, additional board member recruitment, equity raising and strategic transactions. His appointment coincides with the company surpassing the $1 billion lent to customers mark.
Frydenlund has extensive experience in spearheading company growth in the financial sector. In 2009, he founded The Stage Fund to acquire companies in the mist of change due to economic shifts, mismanagement and the massive changes in equity capital investing. He has also led seed stage investing through IPO as a financial and operating executive for over 25 years, having raised debt and equity capital exceeding $1 billion. Frydenlund currently holds Chairman and CEO of the Stage Fund and sits on the board of all Stage Fund investments.
"I'm excited to be joining the P2Bi team as Executive Chairman. I've had the chance to get to know P2Bi and the team over the past several months and I see great potential in their technology and lending platform," said Frydenlund. "With P2Bi surpassing the $10M annual revenue milestone, as well as the $1B funded milestone to our clients, I'm eager to step in and help scale the company as we transition from a regional lender to a national tech-enabled lender."
Frydenlund joins Spiers, Jeffrey Haux and Krista Morgan – the co-founder and CEO of P2Bi – on the board. His additional responsibilities in the role include providing board leadership, acting as advisor and confidant to the CEO, cultivating positive shareholder relationships, providing guidance to management, ensuring effective communication between management and the board, and helping to raise necessary capital to support immediate and strategic growth.
"In hitting our $1 billion funded mark this year, P2Bi is ready to take its next major growth step in providing growth capital to SMBs across the country," said Morgan. "Daniel's proven experience in accelerating promising startups is exactly what we need to accomplish this goal successfully."
For more information on Frydenlund and P2Bi, please visit p2bi.com.
P2Binvestor (P2Bi) is a Denver-based crowd lending platform for working capital that offers businesses a middle path between hard-to-get bank financing and expensive subprime lending. Through technology and with a crowd of accredited investors, P2Bi simplifies lending and provides efficient, competitively priced growth capital to small and medium businesses.