ConnectOne completes BoeFly deal

ConnectOne Bancorp Inc. has wrapped up its previously announced acquisition of BoeFly LLC, an online business lending marketplace based in New York and Boston.

Englewood Cliffs-based ConnectOne, parent of ConnectOne Bank, said in a news release that BoeFly co-founder and CEO Michael Rozman will be president of the new ConnectOne subsidiary unit, reporting to 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.”

The deal was first announced in April. Financial terms were not disclosed.

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