UK online SME lender Capify bags £100m credit facility
Online SME lender Capify has secured a £100 million credit facility with UK-headquartered alternative asset manager Pollen Street Capital.
Capify lands £100m credit facility
John Rozenbroek, CFO and COO of Capify, says that the new multi-year facility will increase its lending capacity for funding-ready SMEs while also “enabling us to deliver on our own growth plans”.
“With continued investment in our platforms and customer experience, we will streamline our processes and provide even faster decisions to brokers and SMEs,” adds Rozenbroek.
The company previously secured a £75 million credit facility with Goldman Sachs back in 2019.
Initially established in the US in 2002, Capify expanded its operations to Australia and the UK in 2008. The lender offers merchant cash advance (MCA) and business loan products, with the firm enabling merchants to repay the cost of their loan in instalments.
Founder and CEO, David Goldin, states the new facility represents “another significant milestone” for Capify, and claims that it underlines the strength of its business model as it works to provide “fast, flexible and responsible support to SMEs in the UK and Australia”.
