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Small businesses are the unsung heroes of the American economy, employing nearly half of America’s workforce and making up 44% of the country’s GDP. But when it’s time for small business owners to sell their companies, their options are limited.
Founded by a former investment banker, Ori Eldarov, and a former Meta engineer, Alston Lin, OffDeal is trying to bridge the gap by automating the work of investment banks to offer traditional M&A services to millions of small businesses.
“The most important transactions in our lives, they all involve a human,” said Eldarov in an interview with TechCrunch. “The big mistake that people before us have made is that they delegate everything to Python code.”
OffDeal can help a small business find a buyer, or a buyer to find small businesses. In a demo shared with TechCrunch, Eldarov showed how its AI agents can help with both.
As for buyers looking to use OffDeal to find acquisitions, the startup created a database of 2 million American small businesses that could be looking for an exit in the coming years. It uses similar AI agents to match buyers with small businesses here.
OffDeal charges between 5% and 10% of the transaction value for its services, a similar rate to what traditional investment banks charge. Eldarov is betting his AI-powered advisers will be able to close more deals than other small business brokers.
