GetCapital has received approval for an $87.5 million allocation of mezzanine funding by the Australian Business Securitisation Fund (ABSF).
“The ABSF allocation allows us to further increase our funding capacity, meaning we can provide our innovative financial solutions to even more businesses,” said Jamie Osborn, Founder and Chief Executive Officer of GetCapital. “Supporters such as the Australian Office of Financial Management recognise the logic of our approach in the current market, and we thank them for their continued involvement.
“The ongoing support of the AOFM, combined with a strong last financial year which saw a 98% increase in loans receivable compared to the prior 12 months, sets us up for a solid year ahead as more businesses look for choice and simplicity when it comes to financial solutions that suit their needs.”
Source: https://australianfintech.com.au/getcapital-receives-87-5-million-absf-mezzanine-funding/