Backd Business Funding closes on a facility with Fortress Investment Group

September 28, 2022
Backd Business Funding closes on a facility with Fortress Investment Group

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Jess Wu

Jess@backd.com

(972) 896-9222

FOR IMMEDIATE RELEASE

September 28, 2022

Backd Business Funding closes on a facility with Fortress Investment Group

AUSTIN, TX - September 28, 2022 - Backd Business Funding partnered with Fortress Investment Group in August 2022 to finance a new lending program.

The facility that Backd closed with Fortress Investment Group will start at $50 million, with the option to extend to $100 million. 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.”

About Backd

Backd is a FinTech company headquartered in Austin that provides alternative financing solutions like working capital and line of credit for growing businesses across the nation.

For more information, visit backd.com, email jess@backd.com or call Jess at (972) 896-9222.

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  • $10K - $2M
  • Terms up to 16 months
  • Automatic daily or weekly, or semi-monthly payments

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  • $10K - $750K
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