Capify, an online SME lender, has secured a significant financial boost with a £100 million credit facility from Pollen Street Capital.
The new credit facility, provided by Pollen Street Capital, will fuel Capify’s ambitious growth plans and serve as working capital to support thousands of SMEs across the UK and Australia in the coming years.
Founded in 2008 by serial entrepreneur David Goldin, Capify emerged during the global financial crisis to address the challenge many small and medium-sized businesses faced in accessing essential funding from traditional banks. Initially established in the United States in 2002, Capify quickly became one of the world’s pioneering online alternative financing platforms for SMEs. In recognition of its contributions to the sector, Capify was honoured as the UK Credit Awards SME Lender of the Year (up to £1m) last year.
David Goldin, Founder and CEO of Capify, expressed enthusiasm about the collaboration with Pollen Street, stating, “We are extremely excited about our future relationship with Pollen Street, a capital provider with a proven track record of partnering with impactful and innovative businesses.” Goldin highlighted the significance of the deal, emphasising Capify’s commitment to offering rapid, flexible, and responsible support to SMEs.
John Rozenbroek, CFO/COO at Capify, echoed Goldin’s sentiments, stating, “We are absolutely delighted to secure this financing deal with Pollen Street,” and underscored the potential for enhanced solutions to meet the growing demand for funding among small businesses.
Rozenbroek elaborated on Capify’s strategy, emphasising investments in platforms and customer experience to streamline processes and facilitate quicker decisions for brokers and SMEs. These advancements align with Capify’s dedication to leveraging technology to address the evolving needs of small businesses efficiently.
Ethan Saggu, Investment Director at Pollen Street Capital, praised Capify’s management team and its longstanding presence in the market. Saggu highlighted Capify’s role in addressing the underserved market segment and promoting financial inclusion and regional economic growth.
Capify’s latest funding round builds upon its history of successful financing endeavors, further solidifying its position as a leader in online SME lending.
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