UK-headquartered Capify, an online SME lender, has secured a £100 million credit facility from Pollen Street Capital (which invested in iwoca and bunq). The new credit facility will fuel Capify’s ambitious growth plans and serve as working capital to support thousands of SMEs across the UK and Australia in the coming years.
With the 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.
Provides working capital for businesses
Founded in 2008 by serial entrepreneur David Goldin, Capify emerged during the global financial crisis to address the challenge many small and medium-sized businesses face in accessing essential funding from traditional banks. Capify quickly became one of the world’s pioneering online alternative financing platforms for SMEs.
Capify’s strategy, emphasising investments in platforms and customer experience to streamline processes and facilitate quicker decisions for brokers and SMEs. These advancements align with Capify’s dedication to leveraging technology to address the evolving needs of small businesses efficiently. It offers rapid, flexible, and responsible support to SMEs.
David Goldin, Founder and CEO of Capify, expressed enthusiasm about the collaboration with Pollen Street, stated, “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.”
John Rozenbroek, CFO/COO at Capify, echoed Goldin’s sentiments, said, “We are absolutely delighted to secure this financing deal with Pollen Street,” and underscored the potential for enhanced solutions to meet the growing demand for funding among small businesses.
“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.
