GetCapital receives $87.5 million ABSF mezzanine funding
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.”
GetCapital is dedicated to meeting the financial needs of Australian businesses. GetCapital offers a broad range of business finance products, including the innovative “bankless” Business Overdraft, as well as solutions for asset purchases, expansion & growth and payments. With a commitment to business finance innovation, GetCapital has made the Deloitte Fast 50 Top 25 three years in a row; was ranked among LinkedIn’s Top Australian Startups in 2019; AFR’s Fast 100; and ranked among the fastest-growing technology companies in Asia Pacific. Find out more at getcapital.com.au