5 lenders join forces to launch global provider

5 lenders join forces to launch global provider



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A leading alternative finance lender has been launched globally today after combining five separate companies….

A leading alternative finance lender has been launched globally today after combining five separate companies.

Capify has today announced its international rebrand with the aim of becoming the most diverse, worldwide alternative SME financing platform, boasting a total funding pot of $100m available with further provisions when required.
 
With UK headquarters in Manchester, Capify has combined five global companies, including United Kapital, Capiota, AmeriMerchant, AUSvance and True North Capital.

According to research by Nesta and the University of Cambridge, the UK’s alternative finance market grew by 161% from 2013 to 2014, with the market estimated to be worth £1.74bn last year.  

The industry is predicted to be worth around £4.4bn this year.

These results are in line with Capify’s client base which now stands at over 5,000 fundings to companies, where approximately £75m worth of financing has been received.

“This is an exciting time for UK businesses seeking added value in alternative financing,” said Tony Pegg, UK Managing Director of Capify.  

“The creation of Capify allows us to build on our UK number one position to offer even more flexibility and scalability to our customers, who often suffer from a lack of suitable banking products.”

From today, Capify will trade as the international brand for a conglomerate of alternative financing solutions.

This includes merchant cash advance, business loans and other working capital products to SMEs.

Both local and global companies that offer products or services to SMEs are now able to partner with Capify for a joint full-service solution which provides customers with worldwide access to business capital.

Existing customers of United Kapital and Capiota are said to see no change in their existing financing deals.

“Our official launch of Capify comes at an exciting time as the alternative financing industry is more prosperous than ever and is top of mind for everyone from those in Camden Town to Wall Street,” said founder David Goldin.

“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 financing provider who can help small businesses with working capital solutions in the UK, US, Australia and Canada.

“By partnering with Capify, global companies that offer products and/or services to small and medium-sized businesses will now have a solution for providing their customers worldwide access to business capital.”

Capify is set to continue its growth with expansion into new markets with the upcoming announcement of several large strategic partnerships.

“We are evaluating a number of other countries which are being explored through existing or new strategic partnerships which will dictate where and when new markets will open up,” Tony Pegg, UK MD, said exclusively to B&C.

Capify’s technology platform offers SMEs a real-time online application which gives a decision in 60 seconds or less.
 
Capify is a fee-based provider and measures on a case-by-case risk-scoring model.


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