Capify closes £8 million equity raise

By Daniel Lanyon on Wednesday 30 September 2020

Alternative Lending

The small business lender scored a £75m credit facility from Goldman Sachs at the start of 2019.

Capify closes £8 million equity raise
Image source: David Goldin, founder and CEO of Capify

Fintech SME lender Capify has closed an £8m equity funding round.  

The firm, which was formed by the merger of four companies operating in four countries: AmeriMerchant (USA), True North Capital (Canada), United Kapital (UK) and AUSvance (Australia), back in 2016, offers online merchant cash advances and business loans.  

Subsequently,  the firm sold the US business in 2017 and exited Canada that same year to focus on the UK and Australia markets.

David Goldin (pictured), founder and CEO of Capify, says demand by SMEs seeking access to capital will be grow to “unprecedented levels”.  

“Most businesses have already accessed the CBILS and Business Bounce Back Loan Scheme but will still need additional capital – as do the many businesses that didn’t qualify for the Government backed programmes and are seeking much needed working capital to grow.” 

He says Capify is actively seeking partnerships with companies with large SME customer bases to provide financing to SME customers during the pandemic. 

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