Finacity Facilitates New Lender Finance Program for Backd Business Funding
Stamford / Austin – (February 8, 2021) – Finacity Corporation (“Finacity”), part of the Greensill family of companies, has assisted with the launch of a new financing program for Austin Business Finance LLC (trading as “Backd Business Funding”) a nationwide SME commercial lender.
About Backd Business Funding Backd Business Funding is an experienced FinTech company headquartered in Austin, Texas, specializing in financial solutions for small and medium sized business enterprises. Backd Business Funding has experienced exponential growth by employing proprietary technology for underwriting and client acquisition. Using their internally developed risk-adjusted pricing model, Backd Business Funding has positioned themselves to facilitate their projected growth for years to come. Xan Myburgh, CEO of Backd Business Funding, said “the new funding facility will immediately address our capital requirements for 2021 and beyond. As the economy rebounds from the COVID pandemic, this facility strategically positions Backd Business Funding to fully support businesses and assist in their growth and success moving forward”. For further information, please visit: www.backd.com.
About Finacity Finacity, a member of the Greensill family of companies, specializes in the structuring and provision of efficient capital markets receivables funding programs, supplier and payables finance, back-up servicing, and program administration. Finacity currently facilitates the financing and administration of an annual receivables volume of approximately US$100 billion. With resources in the US, Europe and Latin America, Finacity conducts business throughout the world with obligors in 175 countries. For further information, please visit www.finacity.com
About Greensill Reformers at heart, Greensill challenges the status quo by working to make global finance fairer and leveling the playing field for all businesses and people alike. The company unlocks capital so the world can put it to work.
Founded in 2011, Greensill is headquartered in London with offices in New York, Frankfurt, Chicago, Miami, Singapore, Bogota, Shenzhen, Abu Dhabi, Johannesburg, Sydney, Warrington and Bundaberg. Greensill provides innovative financing solutions to customers across Europe, North America, Latin America, Middle East, Africa, and Asia – injecting more than US$143 billion of financing in 2019 to more than 8 million customers and suppliers across more than 175 countries.
For further information, please visit www.greensill.com.
For more information on this transaction, please contact:
Finacity
Paul Jenison Managing Director Tel: 1-(203)-428-3511 Email: pjenison@finacity.com
