Capify has announced its global rebrand. The move marks a consolidation of four companies operating in four countries: AmeriMerchant (USA), True North Capital (Canada), United Kapital (UK) and AUSvance (Australia). The new company will offer business loans and Merchant Cash Advances to small businesses across all four nations.
David Goldin, CEO, commented:
“We’re proud to finally announce ourselves as one global conglomerate that is one of the first international movers in the alternative finance space, and the only alternative finance provider who can help small businesses with working capital solutions in the USA, UK, Australia and Canada.”
The conglomerate has – in its previous format – provided $500 million in over 24,000 separate fundraises across 550 different industries since the first company, AmeriMerchant, was set up in 2002. It was due to the initial success of AmeriMerchant that Goldin decided to set up a Canadian equivalent. From there, the company decided that they wanted to expand into other English speaking nations that were “relatable and friendly to American business models”.
When AltFi discussed the news with Goldin, he highlighted that significant integration has always been in place and that they already operate a “share operation/ resources model” which allows them to “leverage the best practices from each market and can quickly roll it out to the other market via our platform”. AltFi asked Goldin what impact he expects the change to have. He highlighted the benefits to Capify’s customers:
“It's "one stop shopping" for strategic/referral partners who provide products and/or services to small and medium-sized businesses that operate in more than one country…If a business has locations in multiple countries that we operate in, we will be able to provide them capital in multiple countries.”
Their partners need only deal with one company in order to gain multinational credit. Furthermore, Goldin pointed out that their improved brand awareness will improve the calibre of staff that they attract:
“From an employment recruitment perspective, we will be able to attract top talent looking to work for a global company with the ability to transfer between countries if they desire"
Mr. Goldin’s comments highlight the benefits of being internationally recognized – and imply that Capify may be able to gain some international clout. In the future, Goldin says that Capify will continue to expand by growing into new markets and continuing to announce significant strategic partnerships.
Now in its sixth year, the AltFi London Summit returns on 18th March 2019 to 155 Bishopsgate. Last year proved to be a crucial turning point for the key players building the future of finance. Leading platforms launched oversubscribed IPOs, digital banks proliferated and mainstream financial institutions started their own disruptive propositions. With 2019 certain to be another landmark year, more questions will be asked by regulators with investor interest in disruption also poised for more rapid growth.