Capify
{{Short description|UK alternative finance company}}
{{Infobox company
| name = Capify
| logo = Capify_Logo.jpg
| logo_caption =
| type = Private company
| industry = Financial services
| founded = {{Start date and age|2008|12|06|df=y}}
| founder =
| hq_location_city = Altrincham
| hq_location_country = United Kingdom
| area_served = United Kingdom, Australia
| key_people = David Goldin, John Rozenbroek
| products = Business loans, Commercial and industrial loans, Merchant Cash Advances
| website = {{URL|https://www.capify.co.uk}}
}}
Capify is a United Kingdom based alternative finance company that is headquartered in Altrincham, England. It has a second office in Parramatta, Australia.{{cite news|author= Brent Bowers |url= https://www.nytimes.com/2007/08/30/business/30sbiz.html |title= Goldman Sachs gives £75m boost to lending fintech Capify |, The New York Times|work= The New York Times |date= 30 August 2007 |access-date=5 April 2023}}{{cite web|author= Oscar Williams-Grut |url= https://finance.yahoo.com/news/goldman-sachs-gives-75m-boost-lending-fintech-capify-120108041.html |title= Goldman Sachs gives £75m boost to lending fintech Capify | Yahoo! Finance|publisher= Finance.yahoo.com |access-date=5 April 2023}} It is a non-bank financial institution providing merchant cash advances and business loans to small and medium businesses. The company was founded by David Goldin in 2002.
History
In 2002, David Goldin created AmeriMerchant, an online alternative finance company specialising in revenue advance services for small businesses that ultimately became Capify. He was also a founding member and the previous President of the Small Business Financing Association (SBFA), formerly known as the North American Merchant Advance Association (NAMAA).{{Cite web|url=https://www.businessinsider.in/a-ceo-shares-his-best-advice-for-getting-promoted-quickly-when-youre-in-your-20s/articleshow/48548493.cms|title=A CEO shares his best advice for getting promoted quickly when you're in your 20s|website=Business Insider}}{{Cite web|url=https://www.altfi.com/article/1208_global_rebrand_gives_rise_to_capify|title=Global Rebrand Gives Rise to Capify|date=July 21, 2015|website=AltFi}}{{Cite web|url=https://www.smh.com.au/business/small-business/goldman-sachs-backed-lender-capify-taps-into-loan-optimism-20200929-p5609x.html|title=Goldman Sachs-backed lender Capify taps into loan optimism|first=Cara|last=Waters|date=September 29, 2020|website=The Sydney Morning Herald}}{{Cite web|url=https://www.afr.com/companies/capify-secures-135-million-from-goldman-sachs-for-sme-loans-20190116-h1a44c|title=Capify secures $135 million from Goldman Sachs for SME loans|date=January 16, 2019|website=Australian Financial Review}}
In 2008, the company expanded its operations to the United Kingdom under the name United Kapital, and extended its presence to Australia as AUSvance. Capify initially focused on delivering merchant cash advance (also known as MCAs). Capify expanded its operations to include typical small business loans in 2008.{{Cite web|url=https://www.brokernews.com.au/features/market-talk/the-sky-is-the-limit-262284.aspx|title=The sky is the limit|first=Melanie|last=Mingas|website=www.brokernews.com.au}}
In 2015, the company rebranded, unifying all the company's brands under the single name of Capify.
By 2017, the company sold its US division, to focus on the UK and Australian markets.{{Cite web |last=AltFi |date=2020-09-30 |title=Capify closes £8 million equity raise |url=https://www.altfi.com/article/7099_capify-closes-8-million-equity-raise |access-date=2023-08-30 |website=AltFi |language=en}}
In 2019, Capify secured a £75 million credit facility from Goldman Sachs.
In 2022, Capify revamped its Quarterly SME Business Confidence Survey and introduced a confidence index, which was designed to measure and evaluate the survey results.{{Cite web|url=https://www.smh.com.au/business/small-business/natural-evolution-capify-founder-tips-australian-fintech-consolidation-20200211-p53zno.html|title='Natural evolution': Capify founder tips Australian fintech consolidation|first=Cara|last=Waters|date=February 11, 2020|website=The Sydney Morning Herald}}
Recognition
In 2023, Capify was nominated as a finalist in the Business Moneyfacts Awards in the category of "Best Alternative Business Funding Provider". Capify UK won the "SME Lender of the Year at the Credit Awards.{{cite web | url=https://www.moneyfactsgroup.co.uk/awards-and-events/business-moneyfacts/shortlist/ | title=Business Moneyfacts Awards 2023 Shortlist }}
In the same year, Capify UK was also shortlisted{{cite web |title=Credit Awards 2023 Shortlist |url=https://www.creditstrategy.co.uk/creditawards/credit-awards-info/credit-awards-shortlist |website=Credit Strategy |access-date=5 May 2023}} and won the Credit Awards "SME Lender of the Year - Lending up to £1 million" award.{{cite web |title=Credit Awards 2023 Winners |url=https://www.creditstrategy.co.uk/creditawards/credit-awards-info/credit-awards-winners |website=Credit Strategy |access-date=7 June 2023}}
References
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