Capify closes A$14 Million equity round as well as continued support from Goldman Sachs Merchant Banking Division
Capify, a leading fintech SME lending platform, today announced it has closed a A$14 million equity round with continued support from Goldman Sachs Merchant Banking Division through its existing credit facilities.
“The fact that we were able to raise A$14 million in equity 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.
In addition, Capify is actively seeking partnerships with companies with large SME customer bases to provide much needed financing to their SME customers, thus allowing them access to capital to purchase good/services which has been financially difficult to undertake during this challenging time.
Continued, Mr. Goldin, “We believe demand by SMEs seeking access to unsecured funding will be at unprecedented levels because many businesses either do not qualify for the Coronavirus SME Loan Guarantee Scheme and require much needed working capital to grow or have already accessed the scheme and still need additional capital, which Capify can fill the gap. 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 funding to their customer base.”
Capify’s 12 year presence in the Australia market is more relevant than ever as small businesses demand for cash flow to navigate through COVID-19 is at an all-time high. According to John de Bree, Managing Director of Capify Australia, “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 only online SME lending platforms in the marketplace that can actively provide non-government backed, unsecured business loans at scale to SMEs seeking working capital to grow their business.”
