FinTech companies continue to grow in the public consciousness. The next thing you know, one will be sponsoring a college Bowl game.
Actually, that “one” will be San Diego-based National Funding, a small-business lender that is sponsoring the Holiday Bowl (make that the National Funding Holiday Bowl) on Dec. 30, in which University of Southern California will face off with University of Wisconsin.
National Funding is celebrating a year of success, in which revenue grew 67%, its existing credit facility with Wells Fargo & Co. was renewed and enlarged to $75 million, and a new credit facility, also $75 million, was opened with CapitalSource Bank.
“We’re growing aggressively, partnering with good banks, and expanding our marketing spend in 2016,” said CEO Dave Gilbert, who happens to be a USC fan.
“I think we’re going to see more visibility not just for our company, but for the whole industry, in 2016,” Gilbert said. National Funding is adding 22 sales reps early in the year, and recently added a broker channel and doubled its office space, Gilbert said.
As title sponsor, Gilbert will be on the field for the coin toss, the trophy presentation, and crucially, the halftime contest in which a fan gets the chance to kick a 20-yard field goal to win a Harley-Davidson. Gilbert was offered insurance for 70% of the value of the bike for a 30-yard kick. That seemed a bit steep. “I’m insuring it myself from the 20,” he said.