Canadian online finance company Merchant Advance Capital has closed a $30 million debt facility. Comvest Credit Partners provided the funds, which were allocated to debt financing and growth capital.
“We’re thrilled to have the support of Comvest in our journey to provide convenient access to working capital for Canadian small businesses,” Merchant Advance Capital CEO David Gens said. “In addition to providing us with a significant quantity of institutional capital, Comvest has an incredibly deep understanding of our space, making them an ideal long-term financial partner as we continue to build out our business.”
“Merchant has built an impressive platform with a strong reputation across Canada. We are excited to partner with the company and look forward to supporting their growth initiatives in the years to come,” Comvest partner Jason Gilbert said.