Kapitus, a Fintech company that offers financing to small businesses, announced the closing of $95 million in additional funding capacity on August 23, “bringing its total debt facilities to $360 million.”
As noted in an update shared with CI, this additional funding capacity “demonstrates continued investor and bank partner confidence in the Kapitus platform, which has seen extensive growth in the last two years,” including:
- 2021 saw the highest funding volume in the company’s 16-year history, and growth continues in 2022 with record application and funding volume each month.
- In July, the company closed a $60 million upsize to its existing securitization and this month expanded its existing warehouse facility to $100 million.
- The company also closed a $40 million upsize of its securitization in February, bringing Kapitus’ capacity increase in 2022 to nearly $140 million.
- Kapitus has provided over $4 billion in growth capital to over 50,000 small businesses since it was founded in 2006.
This financing positions Kapitus for steady growth after a solid year in 2021, which saw the firm’s highest funding volume in its 16-year history as the business continued to support and fund small businesses during the COVID -19 crisis.
Andrew Reiser, CEO at Kapitus, stated (earlier this year):
“It is our mission to provide every small business owner with the financing they need, when and how they need it. This substantial new funding provides us with greater capability to meet the demands of today’s small businesses, many of which are facing unprecedented economic uncertainty.”
The securitization “indicates confidence in the strength of the Kapitus platform, which helps small business grow and prosper by providing financing solutions to meet their unique requirements.”
The financing will “allow Kapitus increased flexibility to meet the needs of even more businesses, by allowing for longer duration repayment terms for its customers.”