Capify, a UK-based online lender catering to small and medium-sized enterprises (SMEs), has secured a £100 million credit facility to support its lending activities.

Capify, an online lender specializing in SMEs, has recently announced securing a substantial £100 million credit facility with Pollen Street Capital, a UK-based alternative asset manager.

John Rozenbroek, serving as Capify’s CFO and COO, expressed enthusiasm for the new multi-year facility. He highlighted its role in expanding the lending capacity for SMEs ready to receive funding, while also enabling Capify to pursue its growth objectives. Rozenbroek emphasized the company’s commitment to enhancing platforms and customer experiences, aiming to streamline processes and accelerate decision-making for brokers and SMEs.

This achievement follows Capify’s previous success in securing a £75 million credit facility with Goldman Sachs in 2019.

Established in the US in 2002, Capify has since expanded its operations to Australia and the UK in 2008. The company offers a range of financial products, including merchant cash advance (MCA) and business loans, allowing merchants to repay their loans through manageable instalments.

David Goldin, the Founder and CEO of Capify, described the new credit facility as another significant milestone for the company. He emphasized that it underscores the strength of Capify’s business model and its commitment to providing swift, adaptable, and responsible support to SMEs in both the UK and Australia.

Source: fintechfutures.com