In a major development, Capify, the UK-based online lender, has successfully obtained a £100 million credit facility. This comes from Pollen Street Capital, a firm renowned for backing businesses like iwoca and bunq.
The fresh infusion of capital places Capify at the forefront of the SME financing scene, ready to unveil the next version of their technology platform tailored to expedite funding processes.
Founded in 2008 during the global economic downturn, Capify emerged as a beacon for small and medium enterprises (SMEs) struggling to secure funding from traditional banks. With a mission to rectify funding access issues, Capify positioned itself as a pioneer in online alternative financing for SMEs. Its focus on leveraging technology to accelerate brokerage processes aligns with a broader commitment to addressing the needs of underserved businesses efficiently.
John Rozenbroek, Capify’s CFO and COO, echoed Goldin’s sentiments, highlighting the potential for innovative solutions to meet the increasing demand among small businesses. He underscored the importance of robust support networks for SMEs, particularly during economically challenging periods.
Ethan Saggu from Pollen Street Capital praised Capify’s leadership and consistent market presence. Saggu noted the alignment of Capify’s business model with Pollen Street’s ESG framework, highlighting a shared vision for financial inclusion and sustainable economic progress.
The credit facility strengthens Capify’s ability to promote financial inclusion. It enables SMEs to seize growth opportunities that might otherwise be inaccessible due to funding limitations.
Looking ahead, Capify is poised to leverage its enhanced capital resources to develop new markets and opportunities, ensuring that SMEs continue to receive the support they need to thrive in uncertain economic climates.
The strategic investments into advanced platforms reflect Capify’s intent to remain competitive while maintaining its mission to advance financial solutions for SMEs.
Capify’s recent £100 million credit facility acquisition marks a transformative chapter in SME financing. With a focus on technology and strategic partnerships, Capify is well-positioned to continue its support for small businesses, driving economic growth across regions.
The strategic alliance with Pollen Street Capital provides Capify with the financial muscle to further its mission of empowering SMEs. Looking forward, Capify’s innovative approaches and robust support systems promise to redefine SME financing, ensuring sustainable growth and financial inclusivity.
