Kapitus Closes $160 Million Securitisation

Published: 18 Dec 2019

Kapitus, a leading provider of financing to small and medium-sized businesses, has closed its second asset-backed securitisation (ABS) for $160 million. The facility, which has a 3-year revolving period, a 5-year legal final, and is expandable to $500 Million, was issued in three classes with the senior class earning a rating of "A (sf)" by Kroll Bond Rating Agency (KBRA). Guggenheim Securities served as sole structuring advisor and sole initial purchaser of the notes.

"The execution of our second securitisation saw a significant increase in size over our inaugural $105 million issuance in June of 2018," said Andrew Reiser, Chief Executive Officer of Kapitus. "This upsize demonstrates the sustainability of the asset class and reflects the market demand for our technology platform and funding processes."

Through its proprietary technology, risk and underwriting models, Kapitus has provided small businesses with fast and efficient funding alternatives for nearly 14 years.

"The world of fintech is evolving to provide a larger suite of products to a more diverse group of businesses," said Chief Operating Officer of Kapitus, Ben Johnston. "Our latest securitisation allows us to grow with our customers while expanding the financing options available to them."

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