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Small business lender Capify nets $10 million in funding

Small business lender Capify nets $10 million in funding

Online lender Capify has scored $10 million in equity funding and secured continued support from Goldman Sachs for its existing credit facilities.

Operating for 12 years, Capify provides loans to small and medium-sized businesses in the UK and Australia.

David Goldin, founder and CEO of Capify, says: “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.

“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.”

He says Capify is actively working with client companies to extend its lending services to their customer bases, providing access to capital to purchase goods and services.

Capify secured a $96 million credit facility from Goldman Sachs in 2019 as part of the Wall Street giant's move to boost its interest in the fintech sector.

Investors in the equity round were not disclosed.

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