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Capify secures $125 M credit facility from Pollen St Capital

Monday, April 29, 2024 — 06:25:46 (EDT)

Altrincham, UK -- 29 April 2024 -- Leading online SME lender Capify has today secured a $125 million credit facility from Pollen Street Capital ("Pollen Street"), an alternative asset manager dedicated to investing within financial and business services.

The new facility will support the lender’s ambitious future growth plans and provide working capital to thousands of SMEs over the coming years.

Founded initially in the United States in 2002, Capify was one of the world’s first online alternative financing companies for SMEs. It was launched in the UK and Australia in 2008, against the backdrop of the global financial crisis, when many small and medium-sized businesses were struggling to access vital funding from banks. Last year it was named the UK Credit Awards SME Lender of the Year (up to £1m).

"We are extremely excited about our future relationship with Pollen Street, a capital provider with a proven track record of partnering with impactful and innovative businesses. This deal represents another significant milestone for Capify and underlines the strength of our business model in providing fast, flexible and responsible support to SMEs”, said David Goldin, Founder and CEO of Capify.

“We are absolutely delighted to secure this financing deal with Pollen Street" added John Rozenbroek, CFO/COO at Capify. "The credit facility will enable us to continue on our growth trajectory while offering even more attractive and innovative solutions to the growing number of small businesses in need of funding. We are passionate about the vital role SMEs play in the success of any economy . This new multi-year credit facility allows us to provide much-needed access to capital for SMEs to help them manage and prosper, whilst also enabling us to deliver on our own growth plans”.

“With continued investment in our platforms and customer experience, we will streamline our processes and provide even faster decisions to brokers and SMEs,” said Rozenbroek. “These enhancements underline our commitment to leveraging technology to meet the fast-evolving needs of small businesses, ensuring they have quick access to capital and can seize growth opportunities more effectively.”

“We are impressed by Capify's seasoned management team and their enduring presence in the market. Since its inception in 2008, Capify has been at the forefront of online SME lending in both the UK and Australia, consistently demonstrating its commitment to the sector. Capify successfully addresses the needs of the underserved market segment, resulting from a chronic undersupply of bank financing, and promotes both financial inclusion as well as regional economic growth, aligning closely to Pollen Street Capital’s ESG framework. We are delighted to partner with Capify and support their ongoing growth" added Ethan Saggu, Investment Director at Pollen Street Capital. ENDS

About Capify

Capify is an online lender that provides flexible financing solutions to SMEs seeking working capital to sustain or grow their business. Originally started in the US over twenty years ago, the fintech businesses have been serving the SME market in the UK and Australia for over 15 years. In that time, it has provided finance to thousands of businesses, ensuring the vibrant and vital SME community can meet the challenges of today and the opportunities of tomorrow.

For more details about Capify, visit:

www.capify.co.uk

www.capify.com.au

About Pollen Street Capital

Pollen Street is a purpose led and high performing private capital asset manager. Established in 2013, the firm has built deep capability across the financial and business services sector aligned with mega-trends shaping the future of the industry. Pollen Street manages over £4.2bn AUM

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Source: Company press release.