Primary Capital Funding, a U.S.-based merchant cash advance provider and small business servicing company, announced on Monday it has acquired a division of Infinity Capital Funding. Primary Capital reported that the acquisition will enable it to expand its mission to help “subprime small business owners” get out of the vicious cycle that the alternative financing loan system poses. The company is also looking to guide merchants to long-term financial well-being.
Primary Capital also revealed that the acquisition will include the Infinity Capital’s merchant portfolio, which will allow Primary Capital to adopt 13 years of historic client performance data, and expanding upon Primary Capital’s current technology suite. David Korchak, Co-Owner of Primary Capital, spoke about the acquisition by stating the following:
“We are excited about the acquisition and believe that the data and technology ICF has built over the past 13 years will be tremendously valuable to our key goals for 2020.”
Isaiah Kenigsberg, Infinity Capital Funding’s Financial Controller and Primary Capital’s new CFO, went on to add:
“I have been working with Primary Capital over these past few months and I’m truly excited to be joining their team. I believe in their plans for expansion into the market and the growth and strategy visions for the future.”
Primary Capital LLC is a full-service investment banking firm registered with the Securities and Exchange Commission (SEC), and a member of both the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC). The company provides a broad range of banking and advisory services with a focus on the needs of small to midsized public companies and late-stage private companies
