Goldman Sachs Private Capital provided the credit facility that will be used to promote Capify's growth across Australia and the U.K., particularly its merchant cash advance and SMB loan products.
In a statement, Capify CEO David Goldin called the investment "a landmark achievement" for the firm.
"This new multi-year credit facility allows us to deliver on our own growth plans, whilst providing much-needed access to capital for British and Australia small businesses to help them grow, to boost the economy and to create jobs," he added. "The credit facility validates our company as a leader in the marketplace and underlines the strength of our business model to provide simple, affordable and smart financial options to U.K. and Australian small businesses."
In another statement, Goldman Sachs Private Capital Executive Director Pankaj Soni described Capify as "one of the leading small business finance providers in the U.K. and Australia," adding that the firm is "impressed with the management team, business model and innovative finance solutions for small businesses."
In 2017, Capify announced a deal with Strategic Funding Source to integrate their SMB financing operations. Though not technically a merger, the partnership combined forces of the company to help expand in the U.S. and to link Capify users to financing from Strategic Funding.
That followed the 2015 creation of Capify, resulting from the combination of four separate small business lenders: AmeriMerchant, United Kapital, AUSvance and True North Capital, based in the U.S., U.K., Australia and Canada, respectively.
Goldman Sachs Private Capital, meanwhile, has led funding rounds in other B2B FinTechs, including a 2015 investment in Billtrust. In 2017, the firm led a Series C investment in U.K.-based Neyber, which provides financial wellness solutions for employees by partnering with employers and offering salary-deducted loan products.