Alternative small business finance provider Capify secures £75 million credit facility from Goldman Sachs
Investment expands Capify's financing capacity to meet increasing customer demand and grow its small business lending platform
Jan 16, 2019, 08:55 ET
MANCHESTER, England and SYDNEY and NEW YORK, Jan. 16, 2019 /PRNewswire/ -- 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."
About Capify
Capify provides flexible financing solutions to UK and Australia-based businesses seeking working capital to sustain or grow their business.
The company places a high focus on transparency and provides businesses with fast, personalized small business loans and merchant cash advances.
Capify has been operating in the UK and Australia market for over 10 years. The company with offices in Greater Manchester, England and Sydney, Australia has over 120 employees across both its offices.
For more details about Capify UK, visit: http://www.capify.co.uk.
For more details about Capify Australia, visit: http://www.capify.com.au
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.
Capify Media Contact:
Rori Tolkov on 212-779-2528 or [email protected]
Goldman Sachs Media Contact:
Joseph Stein on +44 0207 774 4080 or email [email protected]
SOURCE Capify