Proceeds to be used to expand Kapitus' financing options for
small businesses as demand for alternative funding products
increases.
NEW
YORK, June 18, 2024 /PRNewswire-PRWeb/ --
Kapitus, a leading provider of financing for small and medium sized
businesses, today announced the closing of a $45 Million investment-grade corporate note
financing. The closing of this most recent financing increases the
Company's total debt facilities to $585
Million. Proceeds from the transaction will be used to
further expand the Company's portfolio of financing products and
making further technology investments in its funding platform,
making it easier for more small businesses to acquire critical
growth capital more quickly.
Kapitus reaffirms its commitment to stand
ready to support small businesses. By expanding the products we are
able to provide and enhancing the speed in which small businesses
can receive financing, we will be able to address the unmet needs
of thousands of small businesses across the U.S.
"With this most recent round of financing, Kapitus reaffirms its
commitment to stand ready to support small businesses with fast and
efficient funding alternatives. Recent research continues to show
that businesses are finding it more and more difficult to access
capital as both bank and non-bank lenders pull back," said
Andrew Reiser, Chief Executive
Officer of Kapitus. "By expanding the products we are able to
provide and enhancing the speed in which small businesses can
receive financing, we will be able to address the unmet needs of
thousands of small businesses across the U.S."
To date, over $6 Billion in growth
capital has been provided to almost 55,000 small businesses through
Kapitus.
"This capital raise also shows a vote of confidence from our
investors in our business model, diversifies our capital structure,
and gives us flexibility as to how and when we deploy capital to
support small businesses," adds Anthony
Rose, Chief Financial Officer of Kapitus. "Despite a tight
credit environment, we continue to see opportunity to provide
capital to small businesses and this raise further enables us to
execute our strategic plan more effectively while maintaining our
focus on delivering enhanced value to small businesses."
Brean Capital, LLC served as the company's exclusive financial
advisor and sole placement agent in connection with the
transaction.
About Kapitus:
Founded in 2006, Kapitus is one of the most experienced and
trusted names in small business financing. As both a direct lender
and a marketplace with an expansive network of financing partners
offering a variety of products, Kapitus has provided over
$6 billion in growth capital to
almost 55,000 small businesses. Kapitus, either directly or through
trusted partners, offers products tailored to the need of every
small business including term loans, sales-based financing, SBA
loans, equipment leases, and revolving lines of credit. For
additional information about the company, visit:
https://kapitus.com/
Media Contact
Jackie Quintana, Pitch PR, 1
480-606-8180, jackie@pitchpublicrelations.com
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SOURCE Kapitus