Pearl Capital

What Pearl Capital does

Pearl Capital (legal entity: Pearl Capital Business Funding, LLC) is a US-based alternative small business financier that originates, underwrites, and services Merchant Cash Advances (MCAs) for underbanked and credit-challenged small businesses. Founded in 2010 and headquartered in Jersey City, New Jersey (with a New York, NY mailing address), the company is wholly owned by Capital Z Partners following a 2015 private equity acquisition. Pearl operates a two-tier distribution model in which Independent Sales Organizations (ISOs) originate and service merchant deals while Pearl provides the funding capital, underwriting, and tooling. A secondary white-label channel allows banks and financing companies to deploy branded MCA products up to $1 million per deal without building in-house infrastructure.

The core platform combines a proprietary underwriting and pricing engine with ISO-facing tools (Price Calculator, ISO Leverage Calculator, Real-Time Performance Dashboard) and integrations into DocuSign for digital document execution and Salesforce for CRM and partner workflow management. Pearl's syndication program allows ISOs to co-invest capital $1:$1 alongside Pearl's institutional capital, with leverage priced at weekly 0.035% (approximately 18.2% APR). The company monetizes through transaction-based spread on MCA originations, revenue share on syndicated capital, and white-label funding fees, and has supported over 23,000 small business financings, processed approximately $1.75 billion in PPP loans during COVID-19, and completed over 15,000 white-label transactions. Pearl has raised $35 million in capital from Arena Investors (2016) and Chatham Capital (2017) and operates from a US-domiciled, single-country footprint.

Name

Pearl Capital

Legal name

Pearl Capital Business Funding, LLC

Website

https://pearlcapital.com

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

101–250 employees

Short description

Pearl Capital is a US-based alternative small business financier that originates and services Merchant Cash Advances via Independent Sales Organizations (ISOs) and white-label partners, providing capital, underwriting, syndication infrastructure, and pricing tools to underbanked merchants nationwide.

Ownership category

akta.pro rank

Product category

Alternative Small Business Financing (Merchant Cash Advance)

NAICS

Sales Financing (52222)

SIC

Short-Term Business Credit Institutions (6153), Finance Services (6199)

akta.pro primary industry

Merchant Cash Advance (MCA) & Revenue-Based Financing (FSAKAGAD)

akta.pro secondary industry

Merchant Cash Advance & Revenue-Based Financing Enablement (FSAGALAH)

Keywords

• Merchant cash advance
• ISO funding platform
• Small business financing
• White label MCA
• Syndication program

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Merchant Cash Advance (MCA) Origination: Core revenue stream generated from originating short-term capital advances (merchant cash advances) to small businesses, typically routed through ISO partners. Pearl earns a yield / spread between capital deployed and amounts repaid by merchants.
2. ISO Syndication Revenue Share: Pearl's syndication program allows ISOs to invest capital alongside Pearl on a $1:$1 basis on deals Pearl originates/underwrites. Pearl earns spread on its capital plus program economics, while ISOs earn portfolio income; leverage terms are priced at weekly 0.035% (approximately 18.2% APR) on the leveraged portion.
3. White-Label Funding Fees: Pearl funds deals originated by white-label partners (banks, financing companies) under the partner's brand, charging fees/spread for capital, underwriting, and platform use while the partner retains the customer relationship. White-label deals can be up to $1 million and funded in under 48 hours.
4. Leverage / Line-of-Credit Interest: Interest income from extending leverage capital to ISO partners at a weekly rate of 0.035% (approximately 18.2% APR) for the syndicated portion of deals, with matching $1:$1 capital structure.
5. PPP Loan Origination (Historical): During the COVID-era Paycheck Protection Program, Pearl Capital originated / processed approximately $1.75 billion in PPP loans as a complementary revenue stream for small business customers and ISO partners.

Pricing tiers

Go-to-market motion4 records

Distribution channels4 records

Marketing channels6 records

Core offering

Pearl Capital provides an institutionally backed Merchant Cash Advance (MCA) funding and servicing platform that originates short-term capital advances to underbanked and credit-challenged small businesses across the United States. Pearl does not interface with end merchants directly; instead, Independent Sales Organizations (ISOs) originate, underwrite, and service the deals, while Pearl supplies the funding capital, tough-deal underwriting, a $1:$1 syndication co-investment program, a white-label funding infrastructure, and ISO-facing tools (Price Calculator, ISO Leverage Calculator, Real-Time Performance Dashboard) integrated with DocuSign and Salesforce.

Product overview

Pearl Capital operates a single integrated fintech platform for originating, underwriting, and servicing Merchant Cash Advances (MCAs) that is delivered primarily to Independent Sales Organizations (ISOs) and Strategic Partners. The core offering is MCA Funding for underbanked and credit-challenged small businesses, with the end-to-end deal lifecycle supported by companion modules and tools: the Price Calculator and ISO Leverage Calculator tools let partners price and structure deals and project syndication earnings; the Syndication Program and White Label Solution extend the platform into investment participation and co-branded MCA company capabilities; the PCBF Portal and Real-Time Performance Dashboard provide operational access, deal tracking, and reporting; and the ISO Resource Center packages educational content (calculators, webinars, guides, videos, comics) that supports partner success on top of the core platform. Together these products and modules form the Pearl Capital MCA stack used to fund, manage, and monitor short-term capital advances nationwide.

Differentiator

Problem solved

Functional benefit

Products and services

• Merchant Cash Advance (MCA) Funding Short-term capital advance solutions for underbanked and credit-challenged small businesses across virtually any industry in the United States, with deals up to $1 million and sub-48-hour funding via the white-label program. Sold to Independent Sales Organizations (ISOs) and white-label partners (banks, financing companies) who originate and service the merchant relationship.
• Syndication Program ISO participation and investment platform that allows partners to fund merchant deals alongside Pearl Capital on a $1:$1 capital match, track investments through an in-house portal with daily performance indicators, and earn portfolio income beyond origination commissions. Leverage terms are priced at weekly 0.035% (approximately 18.2% APR) on the leveraged portion.
• White Label Solution Turnkey program that lets banks, financing companies, and other partners launch and operate their own branded MCA company using Pearl's underwriting, deal execution, ACH capability with redundancy, risk management, ongoing merchant deal tracking, and 24/7 customer information access. White-label deals are up to $1 million and can be funded in under 48 hours.
• PCBF Portal (ISO Log-In) Online portal for approved ISO partners providing deal management, account statements, refinance/renewal eligibility review, account settings, business tips, testimonials, case studies, and industry insights, with real-time file status updating driven by the Salesforce integration.

Quantifiable outcome

• Over 23,000 financings provided to small businesses
• +5 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature6 records

Partnerships

Four partnerships are on record, tiered core, minor and flagship / core.

• DocuSigncoreTechnology or IntegrationDocuSign is integrated into Pearl Capital's platform for digital document execution on merchant agreements and funding documents. The integration supports Pearl's stated under-48-hour white-label funding turnaround and streamlines the merchant onboarding workflow for ISO partners.
• SalesforcecoreTechnology or IntegrationSalesforce is integrated into Pearl Capital's stack for CRM and ISO partner workflow management. Supports deal tracking, partner pipeline, and operational visibility across the ISO and white-label channels.
• finServ Marketing (Mike Langford)minorGTM or Marketing PartnerMike Langford of finServ Marketing has appeared alongside Pearl Capital executives as a webinar presenter and content contributor, supporting Pearl's demand-generation and ISO-education content programs. Acts as a co-marketing and content partner.
• Independent Sales Organizations (ISOs)flagship / coreChannel Partner/ Reseller/ DistributorISO partners are Pearl Capital's primary distribution and origination channel. ISOs originate, underwrite, and service merchant cash advance deals, with Pearl providing the funding capital, syndication co-investment on a $1:$1 basis, tough-deal underwriting, and an integrated tools suite (Price Calculator, ISO Leverage Calculator, Real-Time Performance Dashboard). Pearl has supported over 23,000 financings through this channel.

Scale indicators10 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Fora Financial: Direct MCA competitor that funds small businesses via an ISO/reseller channel with similar tough-deal underwriting and fast turnaround. Pearl's CRO Jake Lerner previously worked at Fora Financial, underscoring direct overlap in model and customer base.
• Rapid Finance: MCA and small business working capital funder serving ISOs and direct merchants. Competes head-to-head with Pearl on speed, deal size, and tough-deal placement through a similar ISO-led distribution model.
• Credibly: Alternative SMB funder offering MCAs, working capital lines, and term loans through partner and direct channels. Directly comparable on product mix, target customer (underbanked SMBs), and partner-led distribution.
• National Funding: Alternative SMB funder providing MCAs and small business loans, with a comparable mix of partner-originated and direct deals in the same underbanked segment Pearl targets.
• Biz2Credit: SMB lending platform offering MCAs, term loans, and SBA loans through a partner and direct channel. Directly comparable to Pearl's ISO-led distribution into underbanked small businesses, and a competitor for white-label and syndication opportunities.
• Kapitus (formerly Strategic Funding Source): Multi-product SMB funder (MCAs, lines of credit, term loans) serving ISOs and direct merchants. Comparable to Pearl on product breadth, ISO channel, and tough-deal underwriting posture in the same underbanked SMB segment.

Broad incumbents

• Lendio: SMB lending marketplace aggregating multiple funders and product types (MCA, term loans, lines of credit). Comparable in serving the same underbanked SMB customer via a broad platform rather than a single funder, and increasingly competitive as it offers embedded tools for partners.
• OnDeck: Established online SMB lender offering lines of credit and term loans, owned by Enova. Competes with Pearl for working capital dollars, especially as OnDeck pushes down into near-prime and faster-decisioning segments that overlap with Pearl's ISO channel.
• BlueVine: Online SMB funder offering lines of credit, term loans, and invoice factoring. Adjacent competitor in small business working capital, increasingly a threat to ISO-originated MCAs as SMBs shift toward digital prime/near-prime options.
• Fundbox: SMB working capital platform providing lines of credit and invoice-based advances. Competes for the same end merchants Pearl serves indirectly, and represents the type of online, data-driven alternative that could compress ISO-originated MCA demand over time.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/pearl_capital
• Facebookfacebook.com/PearlCapitalBusinessFundingLLC
• LinkedInlinkedin.com/company/pearlcapitalbusinessfundingllc

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Pearl Capital