Capify secures £75m credit facility from Goldman Sachs
Alternative SME finance provider Capify has secured a £75m credit facility from Goldman Sachs Private Capital to support its future growth plans and provide working capital to thousands of British SMEs over the coming years.
The Greater Manchester-based fintech company will use the facility to accelerate the growth of its lending business to UK SMEs through its merchant cash advance (MCA) and business loan products.
David Goldin, founder and chief executive of Capify, said: “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.
“This new multi-year credit facility allows us to deliver on our own growth plans, whilst providing much needed access to capital for UK 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 UK SMEs.”
Pankaj Soni, executive director at Goldman Sachs Private Capital, added: “Capify is one of the leading SME finance providers in the UK.
“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 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.”
Capify has been active in the UK since 2008, executing over 9,000 transactions for UK SMEs seeking working capital for their business. Since inception, Capify has helped deliver £150m in business loans and merchant cash advances in the UK.