B2B Payments

SMB Lending Platform Nav Lands Visa Talent

Small business lending platform Nav announced Tuesday (June 20) that Visa Head of Global Small Business Janet Zablock is joining its board as an independent member.

“We are excited to welcome Janet Zablock to Nav’s Board of Directors. Zablock’s addition is an endorsement of how Nav is working to guide small business owners through the complex world of business credit and financing,” said Nav cofounder and CEO Levi King in a statement. “With her decades of small business lending experience at Visa, Zablock’s appointment comes at a perfect time as we scale to make life easier for millions of business owners.”

Reports said Zablock has been with Visa for more than 20 years, having focused on Visa Business to develop a strategic vision of its small business products.

“Small businesses have traditionally struggled to navigate an increasingly complex lending process,” Zablock said in another statement. “I’m thrilled to lend my expertise to a company that’s empowering small businesses by making it easier to get the credit and financing they need to grow.”

Zablock’s appointment follows news last month that the lending platform secured $13 million in venture capital from Goldman Sachs Principal Strategic Investments, with total funding for Nav now at $38 million. The lending company had also recently announced Bank of America as its newest partner to the platform, which connects SMB borrowers to an array of alternative and traditional financing sources.

Nav also operates in the consumer lending space and helps lenders assess creditworthiness of consumer and SMB borrowers.

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PYMNTS STUDY: THE CROSS-BORDER MERCHANT FRICTION INDEX – JUNE 2020

The PYMNTS Cross-Border Merchant Friction Index analyzes the key friction points experienced by consumers browsing, shopping and paying for purchases on international eCommerce sites. PYMNTS examined the checkout processes of 266 B2B and B2C eCommerce sites across 12 industries and operating from locations across Europe and the United States to provide a comprehensive overview of their checkout offerings.

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