Capify, a leading alternative small business finance provider in the UK and Australia, has secured a £75 million (approx. $95 million USD) credit facility from Goldman Sachs Private Capital ("Goldman Sachs") to support its future growth plans and provide working capital to thousands of Australian and British small businesses over the coming years.
The Greater Manchester, England and Sydney, Australia -based fintech company will use the new facility to accelerate the growth of its lending business to Australian and UK small businesses through its merchant cash advance (MCA) and business loan products.
Capify has been active in the UK and Australia since 2008, executing over 16,500 transactions for Australia and UK small businesses seeking business financing.
"This is a landmark achievement for Capify and we are very pleased that we have secured this financing with Goldman Sachs, one of the premiere capital providers in the world," said David Goldin, Founder and CEO of Capify.
"This new multi-year credit facility allows us to deliver on our own growth plans, whilst providing much needed access to capital for British and Australian small businesses to help them to grow, to boost the economy and to create jobs."
"The credit facility validates our company as a leader in the marketplace and underlines the strength of our business model to provide simple, affordable and smart financial options to UK and Australian small businesses."
Pankaj Soni, Executive Director at Goldman Sachs Private Capital, said: "Capify is one of the leading small business finance providers in the UK and Australia. We have been impressed with the management team, business model and innovative finance solutions for small businesses. We look forward to supporting their growth in the years ahead."
"We are extremely excited about our future relationship with Goldman Sachs," added John Rozenbroek, Chief Financial Officer at Capify. "The credit facility will enable us to continue on our growth trajectory while offering even more attractive and innovative solutions to thousands of small businesses in need of capital."