P2Binvestor is a Funding Platform that Understands the Challenges of Fundraising
Seeking a source of funding is often a difficult part of starting a business, but for Krista Morgan, it was the challenge that inspired her idea for a new company. “I came across P2P [person to person] lending back in 2008 by accident,” Krista said in a CrowdFundInsider interview. “I started thinking about the spread the bank was taking and remember thinking that it would be better if people could lend to people.” Eventually, the idea grew into P2Binvestor (or “P2Bi”), which is an asset-based financing platform for high-growth B2B startups that provides revolving lines of credit of up to $10 million+. However, before P2Bi became successful, Krista Morgan and the P2Bi team endured many of the same entrepreneurial hardships that most of their customers regularly experience.
After P2Binvestor’s first round of funding, they didn’t secure the customers they expected and their investors began to worry about the company burn rate. “As our bank account balance got lower and our personal credit card balances got higher, waking up in the middle of the night in a cold sweat became the norm,” Krista wrote in a Fast Company article. The P2Bi team confronted these challenges by attending free events, pitching the company at every opportunity, and reaching out to every relevant customer they could find. Through this process, P2Bi found its customers and began to thrive.
After enduring their challenges, P2Bi has become a great success. They have been recognized as a 2017 Colorado Company to Watch and Krista Morgan was a 2015 Colorado Biz Magazine Entrepreneur of the Year finalist. These accomplishments are a testament to the team’s hard work and dedication, which gives them great perspective as P2Bi continues to finance emerging companies working through similar challenges.
P2Binvestor continues provide a steady, growing source of funding for Colorado-based B2B businesses, and the Blackstone Entrepreneurs Network Colorado is thrilled to serve Krista and her team.
“We’ve been a BEN company for a few years now and have gotten a ton of value out of access to the network,” said Krista Morgan. “I’ve been introduced to other CEOs and industry leaders who we otherwise would not have had the benefit of meeting."
We are excited to see how P2Binvestor continues to foster growth in Colorado and can’t wait to see where their trajectory takes them. For more information, visit www.p2bi.com.