Goldman Sachs fuels SME finance provider Capify with £75m funding
Alternative SME finance provider Capify has secured a £75 million credit facility from Goldman Sachs to support its future growth plans in the UK.
The Greater Manchester-based fintech company will target SMEs through its merchant cash advance (MCA) and business loan products.
Pankaj Soni, executive director at Goldman Sachs Private Capital, says: “We have been impressed with the [Capify] management team, business model and innovative finance solutions for SMEs. We look forward to supporting their growth in the years ahead.”
Capify has been active in the UK since 2008, executing over 9,000 transactions for SMEs seeking working capital. Since inception, the firm has provided £150 million in business loans and merchant cash advances in the country.
David Goldin is its founder and CEO. Capify also has a sister company, Capify Australia, which provides similar services Down Under for over ten years. The firm has over 120 employees across both its offices.
In other news, earlier this week Immersive Labs received an $8 million investment in a Series A led by Goldman Sachs to grow its cybersecurity skills platform.