OptiFunder named Jon Rutila as chief revenue officer. He will lead sales and marketing functions for the fintech company and grow its national sales...
OptiFunder in Top 100 on Inc 5000 Fastest-Growing Private Companies in America
With Three-Year Revenue Growth of 4,767% Percent, OptiFunder Ranks No. 98 Among America’s Fastest-Growing Private Companies.
NEW YORK, August 15, 2023 – Inc. revealed today that OptiFunder ranks No. 98 on the 2023 Inc. 5000, its annual list of the fastest-growing private companies in America. This list represents companies that have driven rapid revenue growth while navigating inflationary pressure, the rising costs of capital, and seemingly intractable hiring challenges.
Founder and CEO Michael McFadden said making the Inc 5000 list is “an impressive milestone for our entire team. We’re a group of people who collectively and passionately recognize the need for optimization and automation software in the mortgage industry. We’re working together to solve a problem, and this recognition means we have been successful in doing that.”
The Inc. 5000 ranking provides a data-driven look at some of the fastest-growing private companies in America. Among this year’s top 500 companies, the average median three-year revenue growth rate ticked up to an astonishing 2,238 percent, with OptiFunder at 4,767 percent growth.
“This has been a goal of ours since the beginning,” said OptiFunder’s Chief Operating Officer Brian Abbott. “When you go from concept to Top 100 [fastest growing companies] in just three years, it’s completely validating. This recognition is an important achievement for us because this means what we’re doing is making a difference in the industry.”
Founded in 2019, OptiFunder was created to bring mortgage bankers and warehouse lenders together to optimize the selection and streamline the historically manual process of funding mortgage loans. Mortgage bankers rely on multiple warehouse lines of credit for short-term financing to fund mortgage loans until they are sold in the secondary market.
Each warehouse line has unique terms, capacity limits, and constraints, making it difficult for the lender’s funding departments to know where to fund each loan. OptiFunder’s solutions help the lender make the optimal decision of where to fund every loan, with the submission of data and documents to warehouse partners at the speed of business.
More About OptiFunder
OptiFunder is a 3-time HousingWire TECH100 Winner (2021-2023); a HousingWire TECH Trendsetter (2021), a Progress in Lending Association Innovations Winner (2023); and a preferred partner of The Mortgage Collaborative, MISMO, ICE, and LendersOne.
More about Inc. and the Inc. 5000
Companies on the 2023 Inc. 5000 are ranked according to percentage revenue growth from 2019 to 2022. To qualify, companies must have been founded and generating revenue by March 31, 2019. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2022. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2019 is $100,000; the minimum for 2022 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Growth rates used to determine company rankings were calculated to four decimal places.
Inc. Business Media is the leading multimedia brand for entrepreneurs. Through its journalism, Inc. aims to inform, educate, and elevate the profile of our community: the risk-takers, the innovators, and the ultra-driven go-getters who are creating our future. Inc.’s award-winning work reaches more than 50 million people across a variety of channels, including events, print, digital, video, podcasts, newsletters, and social media. Its proprietary Inc. 5000 list, produced every year since 1982, analyzes company data to rank the fastest-growing privately held businesses in the United States. The recognition that comes with inclusion on this and other prestigious Inc. lists, such as Female Founders and Power Partners, gives the founders of top businesses the opportunity to engage with an exclusive community of their peers, and credibility that helps them drive sales and recruit talent. For more information, visit www.inc.com.