Greater Manchester FinTech secures £75m credit facility
FinTech firm Capify has secured a £75 million credit facility from Goldman Sachs Private Capital to support its future growth plans.
The alternative SME finance provider will use the financing to accelerate the growth of its lending business to UK SMEs through its merchant cash advance and business loan products.
Altrincham-based 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, FinTech Capify has helped deliver £150 million in business loans and merchant cash advances in the UK.
“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 founder and CEO David Goldin.
“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.”
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Pankaj Soni, executive director at Goldman Sachs Private Capital, said: “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.”