OffDeal, a startup founded by Ori Eldarov and Alston Lin, is on a mission to assist small businesses in navigating mergers and acquisitions (M&A) using AI agents. This initiative is particularly significant as small businesses employ nearly half of America's workforce and contribute 44% to the nation's GDP. Traditional investment banks typically focus on larger deals exceeding $25 million, leaving small businesses with limited options for selling their companies. To address this gap, OffDeal automates M&A services, effectively matching small businesses with potential buyers and creating tailored pitch decks to facilitate the sales process.
Currently, OffDeal is under contract with nine institutional buyers and has over 250 more on a waitlist, indicating strong demand for its services. The startup has successfully raised $4.7 million in seed funding, led by Radical Ventures, and operates on a fee structure that charges between 5% to 10% of the transaction value, which is comparable to traditional banks. Utilizing OpenAI's GPT-4 models, OffDeal aims to streamline the M&A process for small businesses, making it more accessible and efficient. The company is also part of Y Combinator's Winter 2024 batch, further validating its innovative approach in the financial technology landscape. [f5f836b7]