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.”
Shift provides credit and payment platforms that help businesses trade, pay and access funds. As one of Australia’s fastest-growing technology companies, Shift is changing the way businesses access finance. Shift has been recognised by AFR’s Fast 100, Deloitte’s Technology Fast50, Smart Company’s Smart50, Deloitte’s Asia Pacific Technology Fast 500, IDC Digital Disruptor and has been named the Commercial and Asset Finance Brokers Association Fintech of the Year in 2020, 2021 and 2022.
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