Kalamata.com Upsizes Securitization That Closed in 2024 by 25% Demonstrating Strong Growth from Proprietary Technology Platform

BETHESDA, Md., July 29, 2025 /PRNewswire/ -- Kalamata.com LLC ("Kalamata"), a leading online capital provider of fast, simple, and trusted financing options for small businesses, announced a 25% upsize of their Series 2024-1 securitization. The original issuance closed on April 9, 2024 and the upsize closed on July 23, 2025. The notes are expandable up to $500 million.

This milestone is a significant achievement for Kalamata because it involved both an amendment, which will allow Kalamata to expand into new product areas, as well as a substantial increase in funding capacity. During the marketing of the transaction, Kalamata was also able to showcase its outstanding performance.

Kalamata believes that small- and medium-sized businesses are the engine of the U.S. economy, and that business owners should be able to access the capital they need, when they need it. Kalamata's transaction comes at a critical time for small businesses as economic policy continues to make accessing capital more difficult, while rising costs deepen the need for capital.

For more than twelve years, Kalamata has provided capital to thousands of hard-working small business owners and entrepreneurs to help them grow, create jobs, and better serve their communities. The additional capital along with Kalamata's continued investment in new technologies, further strengthens the company's position as a leader in the alternative finance and private credit industries.

Steven Mandis, Kalamata's Founder and Chairman, stated, "We were able to fully utilize the initial $80 million capital draw in a relatively short period of time, which is a testament to our technology investment, management, and employees. In addition, the additional $20 million upsize displays the need for Kalamata's offerings, filling the needs of merchants and brokers alike. Once again, our Co-Presidents Brandon Laks and Connor Phillips and the rest of the Kalamata team demonstrated their professionalism and showcased Kalamata's differentiated institutional practices, processes, and infrastructure."

Brandon Laks, Kalamata's Co-President said, "The initial transaction laid the foundation for Kalamata to better serve our merchant and broker partners in the form of more attractive product offerings and investments into enhanced technology with the launch of our proprietary system 'Kalamata Cash' in August of 2024. With our proprietary 'Kalamata Cash' technology, Kalamata has seen increased engagement with broker partners seeking faster and more secure technology systems and solutions. The access to additional capital will allow Kalamata to continue supporting Small Businesses and invest more capital in proprietary technology to stay at the forefront of the small business financing industry."

Guggenheim Securities served as sole structuring advisor and the sole initial purchaser of the notes. Eversheds Sutherland provided legal advice to Kalamata.

About Kalamata

Kalamata combines technology, data science, experience, and common sense to provide fast, simple, and trusted online financing options to small- and medium-sized businesses across the nation to help them grow, create jobs, and better serve their communities. Kalamata can provide approvals for up to $500,000 within hours.

Chairman Steven Mandis was previously an owner of the online small business capital provider, Rapid Financial Services. After its sale in 2013 to Rockbridge Growth Equity, the private equity arm of Dan Gilbert—owner of the Cleveland Cavaliers basketball team and Quicken Loans, Mandis founded Kalamata, named after the area where his parents immigrated from in Greece, with his own capital.

Contact:
Brandon Laks
[email protected]

SOURCE Kalamata.com LLC