Capify pulls in £75m credit facility from Goldman Sachs

SME lending platform Capify has received a £75m credit facility from Goldman Sachs in order to meet increasing customer demand.

With the new multi-year credit line, Capify is hoping to extend its lending capacity to meet rising demands in UK SMEs seeking working capital and business loans, it’s also looking to boost the growth of its business.

Founded in 2008, Capify provides loans to UK businesses, having completed more than 9,000 transactions and suppling £150m in total loans. Working capital loans are available of up to £3,500, while business loans can be taken out from between £5,000 and £150,000.

Capify CFO John Rozenbroek said, “We are extremely excited about our future relationship with Goldman Sachs. The credit facility will enable us to continue on our growth trajectory while offering even more attractive and innovative solutions to thousands of small businesses in need of capital.”

Goldman Sachs is very active in the FinTech investing market. Late last year, the firm led the $34m Series B of Ualá, an Argentinian-based mobile banking platform which supports online payments and cash withdrawals.

Other Goldman Sachs deals last year include blockchain security company BitGo’s $57.5m Series B, the $25m round of Veem, a B2B payments platform, and a lead investment to the $52m funding of financial infrastructure developer Jumo.

Copyright © 2019 FinTech Global

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