Capify secures $194 million credit facility from Pollen Street Capital
Leading online SME lender Capify has today secured a $194 million credit facility from Pollen Street Capital, an alternative asset manager dedicated to investing within financial and business services.
The new facility will support the lender’s ambitious future growth plans and provide working capital to thousands of SMEs over the coming years.
Capify was launched in Australia and the UK in 2008 by serial entrepreneur David Goldin, against the backdrop of the global financial crisis, when many small and medium-sized businesses were struggling to access vital funding from banks. Founded initially in the United States in 2002, it was one of the world’s first online alternative financing companies for SMEs.
“We are extremely excited about our future relationship with Pollen Street, a capital provider with a proven track record of partnering with impactful and innovative businesses. This deal represents another significant milestone for Capify and underlines the strength of our business model in providing fast, flexible, and responsible support to SMEs,” said David Goldin, Founder and CEO of Capify.
“We are absolutely delighted to secure this financing deal with Pollen Street. The credit facility will enable us to continue our growth trajectory while offering even more attractive and innovative solutions to the growing number of small businesses in need of funding. We are passionate about the vital role SMEs play in the success of the Australian economy. This new multi-year credit facility allows us to provide much-needed access to capital for SMEs to help them manage and prosper, whilst also enabling us to deliver on our own growth plans,” added John de Bree, Managing Director at Capify.
“With the release of the next version of our technology platform, we will streamline our processes and provide even faster decisions to brokers and SMEs,” said de Bree. “This enhancement emphasizes our commitment to leveraging technology to meet the fast-evolving needs of small businesses, ensuring they have quick access to capital and can seize growth opportunities more effectively.”
“We are impressed by Capify’s seasoned management team and their enduring presence in the market. Since its inception in 2008, Capify has been at the forefront of online SME lending in both the UK and Australia, consistently demonstrating its commitment to the sector. Capify successfully addresses the needs of the underserved market segment, resulting from a chronic undersupply of bank financing, and promotes both financial inclusion as well as regional economic growth, aligning closely to Pollen Street Capital’s ESG framework. We are delighted to partner with Capify and support their ongoing growth,” added Ethan Saggu, Investment Director at Pollen Street Capital.
