Capify, a leading fintech small business lending platform, announced it has closed a $10 million equity round as well as continued support from Goldman Sachs Merchant Banking Division through its existing credit facilities.
“The fact that we were able to raise $10 million for an online small business lender in the midst of a global pandemic from sophisticated investors with industry experience speaks to Capify’s business model, the unprecedented opportunity ahead of us and its management team”, said David Goldin, Founder and CEO of Capify.
Continued, Mr. Goldin, “We believe demand by small businesses seeking access to unsecured capital will be at unprecedented levels because most businesses have already accessed the government backed business loan programs in the UK and Australia market but will still need additional capital – as do the many businesses that didn’t qualify for the Government guaranteed programs and are seeking much needed working capital to grow.”
In addition, Capify is actively seeking partnerships with companies with large small business customer bases to provide much needed financing to their small business customers, thus allowing them access to capital to purchase goods / services which have proven financially difficult during this challenging time. Furthermore, we are looking for opportunities where we can assist our industry peers who don’t have access to capital during this time by providing capital to their customer base.
Capify’s 12 year presence in the UK and Australia market is more relevant than ever as small businesses demand for access to capital to navigate through COVID-19 is at an all time high. According to John Rozenbroek, COO / CFO of Capify, “It is crucial at this time that small businesses are aware of alternative funding solutions to support cash flow or invest in their future. Capify is one of the few online small business lending platforms in the marketplace that can actively provide non-government backed business loans at scale to small businesses seeking working capital to grow their business.”