Headquartered in New York City, Capify combines five previously separate companies founded by CEO David Goldin, including AmeriMerchant operating across the United States since 2002; United Kapital and Capiota operating throughout the United Kingdom; True North Capital operating throughout Canada; and AUSvance, headquartered in Parramatta and operating throughout Australia.
Capify will now operate under one unified name to serve as an international conglomerate provider of unsecured alternative finance solutions, and an alternative finance provider who can help small businesses with working capital solutions in Australia, USA, UK, and Canada.
In a move to further expand its offering to Australian SMEs, Capify has also formed a collaboration with leading global wholesale trade platform, Alibaba.com, owned by Alibaba Group to assist them with alternative finance solutions in global trading.
Under the newly formed collaboration, Alibaba.com e-Credit Line will allow Australian SMEs to apply for working capital as much as AUD$400,000 when they purchase goods from foreign-based suppliers on Alibaba.com.
Capify was the first to offer merchant cash advances in Australia in 2008 and has since built credibility in the market, setting standards for responsible lending solutions.
ABS data suggests that access to finance is the most common barrier to innovation, affecting around 400,000 Australian businesses. Since its launch, Capify has loaned millions of dollars to help local businesses in their growth assisting Australia’s essential SME market to flourish.
Capify will have access to provide more working capital to Australian SME owners, increasing its unsecured lending amount up to $400,000.
The centralisation of selected business resources and functions as well as access to global suppliers will also create economies of scale, allowing Capify to pass on cost-savings directly to local SMEs.
“Our official global launch of Capify comes at an exciting time as the alternative finance industry is thriving more than ever, and is top of mind for everyone from business owners to Wall Street,” said Mr. Goldin.
Business owners can apply online and receive decisions in 60 seconds or less by visiting the company’s website. For more information about Capify in Australia, visit www.capify.com.au or www.capify.global to find out more about the global brand.
