In a Merchant Cash Advance aka "MCA" transaction: a business sells a % of their future revenue for cash today. The merchant could be funded within hours. It's expensive; $100k net to merchant pays back $142k within 6 months or less.

In 2008, banks stopped lending and MCA grew from $500M in 2010 to over $5B today. It's estimated the industry will grow to over $16B over the next few years.

For investors, netting these types of returns requires an infrastructure of brokers, underwriters, and payment processors that make the high cost of capital, origination and underwriting a challenge and success as an outsider nearly impossible.

Until Now…

OpenBid is a Merchant Cash Advance exchange where regular and institutional investors, merchant cash advance brokers, funders, underwriters and syndicates participate in secure, efficient, market priced transactions that benefit everyone. It is a platform that standardizes submissions, underwriting, bidding and deal syndication all within a t...
In a Merchant Cash Advance aka "MCA" transaction: a business sells a % of their future revenue for cash today. The merchant could be funded within hours. It's expensive; $100k net to merchant pays back $142k within 6 months or less.

In 2008, banks stopped lending and MCA grew from $500M in 2010 to over $5B today. It's estimated the industry will grow to over $16B over the next few years.

For investors, netting these types of returns requires an infrastructure of brokers, underwriters, and payment processors that make the high cost of capital, origination and underwriting a challenge and success as an outsider nearly impossible.

Until Now…

OpenBid is a Merchant Cash Advance exchange where regular and institutional investors, merchant cash advance brokers, funders, underwriters and syndicates participate in secure, efficient, market priced transactions that benefit everyone. It is a platform that standardizes submissions, underwriting, bidding and deal syndication all within a transparent, social environment. OpenBid allows for the unique workflow between originators, lenders, underwriters and syndicates that allows each to participate as they actually do in the real world.

The Technology includes:
Apply Now Widgets - Merchants find the best deal available from the entire funding market, privately and securely. No need to worry about “dings” on a credit report.

White Label - A Broker client portal with access to all funders, via secure and fully protected submissions with full control over deal flow.

Bid Engine - Funders can easily and securely choose and bid on deals from an infinite number of relevant submissions in real time.

Syndication:
A unique feature: OpenBid facilitates the ability to syndicate a Deal between several funders.

- OpenBid Terms allow participation as a syndicate of any Deal and fund up to 25% of the Deal.

- Openbid has access to historical deal and performance data, as well as current submissions.

- Platform wide visibility of funders and specifically deal underwriters, which gives a further important view for OpenBid to predict the likely success of a submitted deal based on historical performance by the fund and the actual underwriter / bidder.
More information

Investors

Edward Lujan
Admin
Edward Lujan Thoughtful, ambitious, energetic and goal oriented with passion to build and learn.

Employees

Recommendations

Sharon Peterson

Edward Lujan is a very ambitious and innovative alumni of the Goldman Sachs 10,000 Small Businesses program. I worked with Edward on another technology business while in 10,000 Small Businesses which serviced the small business community. One of Edward’s qualities is his ability to analyze a current situation, identify gaps, and incorporate that learning into a new and improved solution for his customers. He continues to think of new ways to provide solutions using technology to small business owners and others in the business community.

Sheryl Flynn P.T., Ph.D. Founder/CEO at Blue Marble

Edward and I met as colleagues in the Goldman Sachs 10K Small business program 3 years ago. He shared his enthusiasm, ingenuity, knowledge and creativity with others. His leadership in the class was respected by the other classmates. Upon graduation, he spear-headed a monthly meeting with a few of us to continue the conversation around being an entrepreneur and provided us with a private forum to discuss our business and to share concerns. We openly critiqued each other each month. I have learned a tremendous amount from Edward and consider him a mentor. He has selflessly offered his expertise when ever needed. His businesses have been successful and his passion carries him through the tough times. His vision and ability to find problems and solve them is to be respected. Open.bid is another example of his ability to tackle problems. The fintech industry is ripe for this type of disruption.

Eric Canale President at Healmo

Edward has a knack for discovering inefficiencies in marketplace transactions, developing the technology to optimize the transactions and creating profitable businesses around his process. I have witnessed his success doing so in multiple startups since I first met him four years ago. What makes him truly unique among entrepreneurs is the amount of effort he puts into every detail of his vision. He continuously seeks feedback and criticism, tirelessly perfecting his ideas and technology platform.

Adam Kaufman President & CEO at Canary Health.

I have known Ed for several years as we're part of an executive group together. I have been impressed with his vision and energy. And more importantly the innovations behind Open.Bid are needed and will lead to a big business. As bank lending slowed following the 2008 crash Merchant Cash Advance grew significantly but the infrastructure to make it affordable to businesses and efficient for investors has not developed. Open.Bid and Ed and the team aim directly to solve that big problem and are creating a market place to do just that. The technology is live with pilot customers and on the cusp of scaling.