Alternative financing company Behalf has promoted Rob Rosenblatt to CEO; he has been the company’s president for the past six months. Behalf said in a press release that its “customer-facing functions will be housed” in New York City.
Rosenblatt also currently serves as a member of the board of directors of PEX Card, a provider of prepaid cards for employees of small to medium-sized businesses (SMBs). He previously served as head of lending and GM of lending operations for alternative lender Kabbage. There, the release said, he “spearheaded unprecedented growth for the company, roughly double that of major competitors.”
“There is real demand for Behalf’s financing solutions in B2B commerce. Now is the ideal time for Rob and the entire Behalf team to seize the opportunity and focus on growing the company,” commented Michael Heller, Behalf’s executive chairman and an operating partner at Oak FT/HC and MissionOG.
According to the release, the company’s research and development as well as analytical functions will remain in its Ra'anana, Israel offices. Entrepreneurs Benjy and Shai Feinberg, who founded Behalf in 2012, will stay on with the company as advisors.
Earlier this month, the startup inked a deal with Visa involving an investment and “partnership.” Visa said it would offer Behalf’s small business clients in the U.S. a tokenized Visa Virtual Card, which provides companies with instant financing for business purchases.
Behalf said that B2B sellers can use its product to “receive payment upfront, without the need to assume credit risk. Buyers benefit from access to net terms (with no financing fee if paid within the grace period).”
“Consumers have enjoyed a broad range of financing solutions offered by retailers and e-tailers for many years,” noted Rosenblatt. “Now is the time for every major business seller to make net terms and extended financing solutions available to their customers in order to facilitate commerce. Behalf is ideally suited to help accelerate the adoption of these solutions.”