BizEquity, the world’s leading online provider of business valuation big data, announced a strategic relationship with Equifax, an information solutions and, global insights provider, to offer a new business valuation tool to help financial professionals prospect more effectively and small business owners better understand their business’ worth.
As part of the agreement, Equifax will license certain data assets, which include financial and business details of some 80 million companies, to BizEquity to pre-value over 71 million private businesses using its patented cloud-based valuation platform that harnesses sophisticated algorithms and big data knowledge. This will enable financial professionals, such as bankers, financial advisers and wealth managers, to provide their clients and prospects with real-time insight into the fundamental questions of what their business is worth and how they are performing – in a fraction of the time it takes to accomplish a traditional business valuation.
“We are proud to team up with Equifax, a global leader in the world-wide data and insights business, to harness the power of billions of data elements and use this data to democratize knowledge for every small business around the world,” said Michael M. Carter, CEO of BizEquity. “By jointly distributing the BizEquity service, targeting over 900,000 financial professionals, we’ll both innovate and disrupt by delivering value to the commercial market.”
The new valuation service will help provide financial professionals with:
“Combining our market-leading data assets with BizEquity’s award-winning technology is an excellent strategic relationship and an example of how Equifax continues to create innovative alliances,” said Joy Wilder Lybeer, senior vice president of Enterprise Alliances at Equifax.
Some 10 million businesses are expected to change ownership over the next 10 years1. Moreover, with a significant number of businesses looking for financing and with many proprietors planning retirement based on the sale of their company, business valuation knowledge is a vital service provided by financial institutions and advisors.
BizEquity has over 300 financial institutions as clients to it’s private labelled service offering including leading wealth management firms, insurance carriers, and international banks, including Metro Bank US, American Bankers Association, Penn Mutual, Dynasty Financial Partners in New York; Mutual of Omaha; and one of the UK’s largest wealth management firms.