SYDNEY, AUSTRALIA – 20 July, 2023 – Shift, a leading provider of credit and payment platforms for Australian businesses, today announced the completion of a new funding warehouse, increasing its external funding capacity by an additional $250 million to over $1 billion.
The new facility is Shift’s second warehouse funded by a big four Australian bank – and its third warehouse overall - and also introduces a new domestic mezzanine provider to Shift’s debt investor register.
The facility finances all of Shift’s core products and provides the group with increased material funding capacity as it enters its next phase of sustained growth.
Jamie Osborn, CEO of Shift, said, “We welcome two new funding partners with this new facility, increasing the diversification of Shift’s funding base and providing additional capacity to help Australian businesses.“
“We thank our partners for their confidence in Shift as we support more quality businesses with tailored financial solutions.”
Shift has provided more than $2.5 billion in financial solutions to Australian businesses, with an average growth of over 50% annually for the past three years.
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