Capify secure £100 million credit facility from Pollen Street Capital
Summary
Leading online SME lender Capify has today secured a \xa3100 million credit facility from Pollen Street Capital (Pollen Street), an alternative asset manager dedicated to investing within financial and business services.The new facility will support the lenders ambitious future growth plans and provide working capital to thousands of SMEs over the coming years.Capify was launched in the UK and Australia in 2008 by serial entrepreneur David Goldin, against the backdrop of the global financial crisis, when many small and medium-sized businesses were struggling to access vital funding from banks. The credit facility will enable us to continue on our growth trajectory while offering even more attractive and innovative solutions to the growing number of small businesses in need of funding. These enhancements underline our commitment to leveraging technology to meet the fast-evolving needs of small businesses, ensuring they have quick access to capital and can seize growth opportunities more effectively.We are impressed by Capifys seasoned management team and their enduring presence in the market. 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 Capitals ESG framework. We are delighted to partner with Capify and support their ongoing growth added Ethan Saggu, Investment Director at Pollen Street Capital.Its geographic range is matched by the diversity of industry it boasts, and with prominent cities including Brighton, Reading, Oxford and Southampton as well as the UKs second busiest airport in Gatwick its no wonder its very much an engine of growth for the UK.