Capify secures $135 million from Goldman Sachs for SME loans
Capify, a leading Australian alternative SME finance provider has secured a $135 million credit facility from Goldman Sachs Private Capital (“Goldman Sachs”) to support its future growth plans and provide working capital to thousands of Australian SMEs over the coming years.
The Sydney-based fintech company will use the new facility to accelerate the growth of its lending business to Australia SMEs through its business loan and merchant cash advance (MCA) products.
Capify has been active in Australia since 2008, executing over 7,500 transactions for Australian SMEs seeking business financing and most recently celebrated its ten-year anniversary.
“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 Australian 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 Australian SMEs.”
Pankaj Soni, Executive Director at Goldman Sachs Private Capital, said: “Capify is one of the leading SME finance providers in Australia. 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 DeBree, Managing Director – Australia 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.”