MANCHESTER, England, January 16, 2019
MANCHESTER, England, January 16, 2019 /PRNewswire/ --
Investment expands Capify's financing capacity to meet increasing customer demand and grow its SME lending business
Capify, a leading alternative SME finance provider in the UK, has secured a £75 million credit facility from Goldman Sachs Private Capital ("Goldman Sachs") to support its future growth plans and provide working capital to thousands of British SMEs over the coming years.
The Greater Manchester-based fintech company will use the new facility to accelerate the growth of its lending business to UK SMEs through its merchant cash advance (MCA) and business loan products.
Capify has been active in the UK since 2008, executing over 9,000 transactions for UK SMEs seeking working capital for their business. Since inception, Capify has helped deliver £150 million in business loans and merchant cash advances in the UK.
"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 UK SMEs 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 SMEs."
Pankaj Soni, Executive Director at Goldman Sachs Private Capital, said: "Capify is one of the leading SME finance providers in the UK. We have been impressed with the management team, business model and innovative finance solutions for SMEs. 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."
Pictured: David Goldin, Founder and CEO of Capify.
Capify provides flexible financing solutions to SMEs seeking working capital to sustain or grow their business.
The company places a high focus on transparency and provides businesses with fast, personalised small business loans and merchant cash advances.
Capify has been operating in the UK market for over 10 years and also has a sister company, Capify Australia, which provides similar services in Australia to Australian SMEs for over 10 years. The company has over 120 employees across both its offices.
For more details visit: http://www.capify.co.uk.
About Goldman Sachs Private Capital
Goldman Sachs Private Capital is Goldman Sachs' investment platform dedicated to providing long term capital to growth and middle-market companies throughout the US, Europe and Israel. The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.