Goldman Sachs Private Capital had previously funded Capify with a $135 million facility established in 2019.
Small business lender Capify has switched funders from Goldman Sachs to Pollen Street Capital, a London-based private capital investor keen to lift its exposure to Australian fintech lending, Street Talk understands.Capify, which has an $80 million SME loan book in Britain and Australia, has secured a $190 million facility in a tough market for financial technology players given higher global interest rates and uncertainty about the macroeconomic outlook.
Its goal is to double lending in Australia off the back of the new facility. The terms are confidential, but typical debt market pricing for fintech lenders can be anywhere between 5 per cent and 14 per cent over BBSW, according to market sources. Given Capify’s lending track record, it may have borrowed towards the bottom end of this range.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Goldman Sachs, Jefferies top brass resignStreet Talk understands Goldman Sach co-head of equities Mario Argyrides has tendered his resignation.
Read more »
Goldman Sachs, Jefferies equities heads resignStreet Talk understands Goldman Sach co-head of equities Mario Argyrides has tendered his resignation.
Read more »
Goldman Sachs eyes Australian banking licence as it steps up lending to the ultrarichThe Wall Street investment banking giant has made no secret in its desire to expand its private wealth division. There are limits on what it can do.
Read more »
Ansell prepares $400m equity raise for M&A; Goldies on ticketGoldman Sachs started wall-crossing fund managers over the weekend ahead of the mooted cash call.
Read more »
Gender pay gap: Goldman Sachs’ women problem is getting worseThe mean hourly pay difference between men and women has reached 54 per cent as the bank struggles to promote more women to top positions.
Read more »
Citi Australian business records losses as ‘Project Bora Bora’ takes shapeCiti, Morgan Stanley, Goldman Sachs and Jefferies’ Australian operations experienced heavy dips in profits last year.
Read more »