Fintap, a technology-enabled specialty finance company based in Clifton, on Thursday announced it has closed on a substantial new funding package totaling up to $86.5 million, a significant increase from its previous 2021 financing round.
The new capital is comprised of a credit facility of up to $82.5 million and a corporate note of up to $4 million. This investment will be used to accelerate Fintap’s growth, enhance its technology infrastructure and API integrations, and expand access to working capital for small businesses across the nation that are often underserved by traditional financial institutions.
Since its founding in 2015, Fintap has deployed over $300 million to more than 5,000 small businesses in over 100 industries throughout the U.S.
“Our new credit facility enables us to scale our reach and better serve SMBs with faster, more competitive financing solutions,” Reuven Mirlis, CEO and founder of Fintap said.
This financing marks Fintap’s transition into its next phase of growth, reinforcing its commitment to delivering efficient and transparent funding solutions and solidifying its competitive position in the specialty finance sector.
