JPalmer Collective Completes $72 Million Capital Raise to Accelerate Growth and Fund New Clients

Capital to support growth trajectory of ABL firm funding high growth companies and working to make financing more inclusive

NEW YORK, Oct. 17, 2024 /PRNewswire/ -- JPalmer Collective (JPC), an asset-based lending company committed to funding high-growth, women-led and natural products companies, today announced a series of transactions raising $72 million in gross proceeds. The raise will accelerate JPC's growth trajectory and fund new loans to JPC borrower clients.

The capital raise consists of a strategic combination of financing including a senior revolving credit facility provided by Texas Capital Bank, a mezzanine credit facility from a New York-based institutional alternative asset manager, and an infusion of common equity. These transactions represent the first time JPC has raised outside capital since its founding in March 2023 by ABL-industry veteran, Jennifer Palmer. Up to this point, the company was funded by a diverse mix of investments from the founder, friends and family, and ultra-high-net-worth individuals.

Texas Capital Securities acted as the exclusive strategic and financial advisor to JPalmer in connection with the capital raise.

JPC's customized financing solutions and white-glove, consultative services are designed to help businesses sustainably grow while enabling founders to retain their equity. This approach has propelled the company to the forefront of the industry, fostering lasting partnerships and driving meaningful impact for clients. The company specializes in high-growth businesses that do not fit traditional lenders' criteria and has committed 51% of its portfolio to women-owned and -led companies and those that prioritize sustainability and inclusivity. To date, JPC has strategically funded a group of hand-selected clients, including 8Greens, Hippeas, Nona Lim, and Peace Coffee. 

"We've built incredible momentum over the first 18 months, and this capital raise will allow us to expand our portfolio and support innovative companies that are poised to make a significant impact in their industries, as well as continue our commitment to making financing more inclusive and meaningful," said Jennifer Palmer, Founder and CEO of JPC. "We are fortunate to have great partners in this raise. We chose Texas Capital Bank as our bank due to our longstanding relationship with key management and their commitment to partnering with lenders. Texas Capital Securities crafted this sophisticated deal, and we are incredibly impressed by the team's expertise and professionalism."

About JPalmer Collective

JPalmer Collective is a customized asset-based lending solutions provider founded in 2023 by Jennifer Palmer, commercial finance veteran, former president of SFNet, and an advocate for improving women's access to financing. Created to fund high-growth companies that do not fit the traditional lender's criteria, the company provides white-glove service with a consultative approach to women-led companies, high growth consumer brands and companies focused on conscious consumers, sustainability, and inclusivity so they can achieve sustainable growth. Palmer serves on the board of directors of Star Equity Holdings, Inc. and the New York Institute of Credit. 

SOURCE JPalmer Collective