Kapitus, a leading provider of financing for small and medium-sized businesses, has announced the closing of a $45m investment-grade corporate note financing.
This latest financing round increases the company’s total debt facilities to $585m. The investors involved in this financing were not disclosed.
Kapitus specialises in offering diverse financing solutions to small and medium-sized enterprises (SMEs). With the new funds, the company aims to expand its portfolio of financing products and enhance its funding platform, making it more accessible and efficient for small businesses to secure essential growth capital.
Proceeds from this financing will be directed towards further technological investments in Kapitus’ funding platform. This enhancement is expected to streamline the process, allowing more small businesses to obtain critical growth capital quickly and efficiently.
To date, Kapitus has provided over $6bn in growth capital to nearly 55,000 small businesses across the U.S.
Kapitus chief executive officer Andrew Reiser said, “With this most recent round of financing, Kapitus reaffirms its commitment to stand ready to support small businesses with fast and efficient funding alternatives. Recent research continues to show that businesses are finding it more and more difficult to access capital as both bank and non-bank lenders pull back.
“By expanding the products we are able to provide and enhancing the speed in which small businesses can receive financing, we will be able to address the unmet needs of thousands of small businesses across the U.S.”
Anthony Rose, chief financial officer of Kapitus, added, “This capital raise also shows a vote of confidence from our investors in our business model, diversifies our capital structure, and gives us flexibility as to how and when we deploy capital to support small businesses. Despite a tight credit environment, we continue to see opportunity to provide capital to small businesses and this raise further enables us to execute our strategic plan more effectively while maintaining our focus on delivering enhanced value to small businesses.”
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