Englewood Cliffs-based ConnectOne Bank completed the acquisition of BoeFly LLC, an online business lending marketplace which connects small- to medium-sized businesses seeking funding with loan brokers and lenders across the country.
The deal was previously announced in April. According to the bank’s parent company ConnectOne Bancorp Inc., which announced the completed acquisition on Monday, BoeFly will continue to operate within the company as an independent brand.
Financial terms of the deal were not disclosed.
BoeFly co-Founder and Chief Executive Officer Michael Rozman will join ConnectOne as president of the BoeFly division, along with that company’s current employees, the bank said. Rozman will report directly to ConnectOne Chairman and CEO Frank Sorrentino.
“With the successful acquisition of BoeFly’s innovative online platform, dynamic patented technology and FinTech-focused entrepreneurial team, we see a great opportunity to expand and diversify ConnectOne’s revenue streams while strengthening our digital bank strategy and our competitive position,” Sorrentino said in a prepared statement. “We look forward to a seamless transition working with BoeFly’s employees, clients, partners and participating lenders.”