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Host David Grisell conducted his initial interview with Robert Preville, CEO of APPROVE, in August 2022 (E28), during which Preville introduced his groundbreaking equipment financing marketplace, then known as Kwipped. In the past year, the company underwent a rebranding, adopting the name APPROVE, reflective of their leading revenue-generating offering. APPROVE operates as a finance marketplace for equipment leases and purchases, achieving an impressive revenue growth of approximately 100% year over year.While still actively managing the equipment leasing marketplace, the APPROVE platform has evolved into their primary product. They now market it to vendors for integration into their own ecommerce sites as a virtual captive finance solution. Compensation is derived through a fixed take rate on each financing, establishing a stable and predictable income stream. Robert's strategic focus involves achieving an annual revenue milestone surpassing $20 million and positioning the company for potential acquisition. Furthermore, they remain open to additional fundraising and further growth as viable avenues for expansion.Reach David on Twitter/X @DGRollingSouth for comments and entertaining cartoons on Venture. We invite your feedback and suggestions at ventureinthesouth.com or email david@ventureinthesouth.com. Learn more about RollingSouth at rollingsouth.vc or email david@rollingsouth.vc. Follow Paul on LinkedIn. Download our White Papers and Cheat Sheets HERE. Thanks for listening and remember: Our mission is to MAKE MONEY, HAVE FUN AND DO GOOD.
In this episode, we speak with Robert Preville, CEO & Founder of KWIPPED. KWIPPED is an online B2B equipment marketplace where businesses can rent, lease, finance or buy any equipment for any job from a global network of thousands of trusted equipment suppliers.
What is a marketplace business, and how does that model impact each aspect of a company’s strategy? How do you choose the right business model to succeed in a market-place driven world? In today’s episode, we talked with Robert Preville, an expert on marketplace businesses, serial entrepreneur, and investor that has founded and led several high-growth companies. Robert is the founder and CEO of Kwipped, a B2B marketplace platform headquartered in Wilmington, North Carolina that matches businesses who need to rent equipment with a global network of rental suppliers. In this interview, Robert discusses his personal experience and growth in the marketplace platform industry, and how his company Kwipped, is managing and sourcing from a global network of equipment suppliers, reducing risk, and building a trusting relationship between renters and suppliers. Along with Robert’s personal experience, you’ll hear his thoughts on how other companies are being successful using similar platforms, advice on choosing the right business model to succeed in the marketplace world, and the core challenges of starting out and succeeding with a marketplace platform. Tune in for Robert’s discussion about his growth as a young entrepreneur during his formative years, his personal experience with marketplace models to his role as the founder and CEO of Kwipped. Find out more on how Robert and his fellow colleagues are disrupting the B2B equipment rental industry with their marketplace platform, Kwipped! In this episode with Robert Preville, you’ll learn: --- What a marketplace model is and how it’s evolving for the future --- How companies can win with a marketplace model --- The challenging pieces of a marketplace business --- How to choose the right model to succeed in the marketplace world ---The lessons of choosing the right business model in the marketplace industry --- Companies that are being successful using a marketplace platform --- How the Kwipped platform is impacting the B2B equipment rental industry If you like this episode, please subscribe and leave us a review on iTunes. You can also follow us on Soundcloud or Stitcher. We have an incredible lineup of interviews we’ll be releasing every Tuesday here on the Powderkeg Podcast.
Robert Preville, founder and CEO of KWIPPED, which enables rentals and leasing of specialized equipment, tells Karen Webster why digital and standardization can lead to more revenue for suppliers. This installment of the “Topic TBD” podcast series from PYMNTS looks at whether the so-called sharing economy can apply to the gear vital to such operations as labs, oil rigs, doctors’ offices and farms.
Robert Preville, founder and CEO of KWIPPED, which enables rentals and leasing of specialized equipment, tells Karen Webster why digital and standardization can lead to more revenue for suppliers. This installment of the “Topic TBD” podcast series from PYMNTS looks at whether the so-called sharing economy can apply to the gear vital to such operations as labs, oil rigs, doctors’ offices and farms.
We speak with Robert Preville from KWIPPED, a platform that makes it easy for businesses to locate and rent equipment from a global network of equipment suppliers. KWIPPED is headquartered in Wilmington, NC. www.kwipped.com