UK-based alternative finance company Capify has announced securing a £100 million credit facility from Pollen Street Capital, aiming to address the chronic undersupply of bank financing for small and medium-sized enterprises (SMEs).
Capify, headquartered in Altrincham near Manchester, specialises in providing loans to SMEs seeking working capital for sustaining or expanding their businesses. With the global financial crisis highlighting the challenges faced by many SMEs in accessing vital funding from traditional banks, Capify emerged to bridge this gap in the market.
The £100 million credit facility from Pollen Street Capital marks a significant shift in Capify’s capital strategy, moving away from its previous reliance on Goldman Sachs. The infusion of funds will support Capify’s future growth plans and enable the provision of working capital to thousands of SMEs in the UK and Australia over the coming years.
David Goldin, Founder and CEO of Capify, expressed enthusiasm about the partnership with Pollen Street, highlighting the latter’s track record of supporting impactful and innovative businesses. The funding will facilitate the launch of the next version of Capify’s technology platform, aimed at streamlining processes and expediting decision-making for brokers and SMEs.
John Rozenbroek, CFO/COO at Capify, emphasised the importance of the credit facility in enabling the company to continue its growth trajectory while offering more attractive and innovative financing solutions to SMEs. The focus remains on providing fast, flexible, and responsible support to SMEs, vital for their success and the overall growth of the UK economy.
This multi-year credit facility underscores Capify’s commitment to empowering SMEs with access to capital, helping them thrive and contribute to economic prosperity while driving the company’s own growth objectives.
