Capify raises £8m in growth equity and maintains a £75m credit facility from Goldman Sachs to back small businesses.
The online lender secured £8m in growth private equity alongside continued credit support from Goldman Sachs.
Capify operates as an online alternative lender providing working capital and finance solutions to small and medium-sized enterprises in the UK and Australia.
Capify has secured £8m in growth private equity alongside continued credit facilities totalling £75m from the Goldman Sachs Merchant Banking Division. The fresh capital will be deployed to supply alternative business loans to small and medium enterprises needing working capital during the coronavirus pandemic.
The Manchester-based lender intends to use the injection to maintain its scale in the market and service businesses that missed out on government-backed schemes or require capital beyond standard relief programmes. Leadership noted that demand for alternative funding remains elevated as small firms navigate economic pressures.
The transaction builds on the platform's twelve-year operating history in the British market. Management is also pursuing partnerships with firms holding large small-business customer bases to distribute financing more widely.
From the founder
"The fact that we were able to raise £8 million for an online small business lender in the midst of a global pandemic from sophisticated investors with industry experience speaks to Capify’s business model, the unprecedented opportunity ahead of us and its management team"
David Goldin
Founder and CEO at Capify
Use of funds
- 01Scale operations
