The facility will allow the Greater Manchester-based alternative finance provider to back thousands of UK SMEs with working capital over the coming years.
Capify also intends to use the new facility to accelerate the growth of its lending business to UK SMEs through its merchant cash advance (MCA) and business loan products.
Since its launch in 2008, the lender has executed over 9,000 transactions for SMEs and helped to deliver £150m in business loans and MCAs.
“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 David Goldin, founder and CEO at Capify (pictured above).
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“This new multi-year credit facility allows us to deliver on our own growth plans, while 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, felt that Capify was one of the leading providers of SME finance 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.”