SecurCapital Corp, an expanding supply chain and financial services provider, announced last week it has acquired Breakout Capital Finance, a fintech company and nationwide small business lender. Founded in 2015, Breakout Capital claims it is a small business lender that provides simple, straightforward working capital solutions to small businesses.
“Breakout Capital is one of the fastest growing alternative lenders in the market, already providing tens of millions of dollars of working capital to hundreds of small businesses across the country.”
While sharing more details about the acquisition, Steve Russell, CEO of SecurCapital, stated:
“We’re delighted to have found a highly respected team and innovative business model in the small business finance space. I share the founder’s vision of the massive potential of the FactorAdvantage lending solution and believe we now have the platform and capital to rapidly grow this industry-changing product. We couldn’t have found a better business to complement SecurCapital’s strategic vision for empowering small businesses.”
Breakout Capital Finance’s Founder, Carl Fairbank, then noted:
“After four years as Founder and CEO of Breakout Capital Finance, this transaction begins the next chapter of Breakout Capital’s lending business. SecurCapital is also committed to the proliferation of best practices to drive change in the broader market. I believe Breakout Capital, in partnership with SecurCapital, is now well positioned for substantial growth, especially with its commitment to FactorAdvantage.”
SecurCapital Fairbank will provide strategic guidance during the transition, but has stepped down as CEO of Breakout Capital to focus on driving innovation in advanced technology, including artificial intelligence, machine learning, and blockchain.