Online SME lender Capify has announced a $194 million credit facility agreement with Pollen Street Capital, an alternative asset management firm.
This new financial backing aims to enhance Capify’s lending capacity, enabling it to meet the growing demands of SMEs in Australia.
David Goldin, founder and CEO of Capify, expressed enthusiasm about the partnership.
“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,” Golden said. “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.”
John de Bree, managing director at Capify, also commented on the strategic importance of this credit facility.
“We are absolutely delighted to secure this financing deal with Pollen Street,” de Bree said. “The credit facility will enable us to continue our growth trajectory while offering even more attractive and innovative solutions to the growing number of small businesses in need of funding.”
Capify plans to launch the next version of its technology platform, which promises to streamline processes and provide quicker decision-making for brokers and SMEs.
“With the release of the next version of our technology platform, we will streamline our processes and provide even faster decisions to brokers and SMEs,” de Bree said.
Ethan Saggu, investment director at Pollen Street Capital, praised Capify’s contribution to SME lending.
“We are impressed by Capify's seasoned management team and their enduring presence in the market,” Saggu said. “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.”
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