BFS Capital is on the brink of an IPO.
Fresh off a rebrand from Business Financial Services to BFS Capital, the small business lender has now submitted a draft registration statement on Form S-1 with the SEC in relation to an IPO. Few details are available at the moment, with the number of shares to be sold and the price range yet to have been determined.
The BFS Capital offering will commence after the SEC has completed a thorough review of the registration statement, subject to market and other conditions.
BFS is a technology driven short term business lending platform that launched way back in 2001. The company offers both term loans and merchant cash advances to a broad range of SMEs, via a balance sheet lending model. The company has been gradually gathering momentum lately, having acquired the business funding facilitator Entrust for an undisclosed sum in late August. The platform also crossed the fabled $1bn mark in funds extended in July. Everything seems to be falling into line for the alternative finance sector’s next high profile IPO. We’ll keep you posted.
AltFi is returning to Amsterdam for its second annual Summit in the city. The inaugural event last year was a roaring success, with key figures from across Continental Europe's alternative finance and digital banking sectors highlighted. These included Jeroen Broekema, managing director of Funding Circle Netherlands, and Mieke van Engelen, head of innovative partnerships at ABN AMRO's standalone lending platform, New10.