USD financing from funds managed by Castlelake will enable YouLend to expand and grow its origination plans for the next three years.
To date, YouLend has funded more than 200,000 small and medium-sized businesses (SMBs) globally. Castlelake's previous financing investments have enabled YouLend to provide over $1.3bn of SMB financings across the UK and Europe
Oct. 21, 2024 /PRNewswire/ -- YouLend, a global embedded financing platform today announces that it has secured a new financing facility with funds managed by Castlelake, a global alternative investment firm that specializes in asset-based private credit. The new facility broadens YouLend's investor base in the US and increases YouLend's available capital which has the potential to now extend over $1 billion in revenue-based financings to US SMBs over a three year period. The announcement follows YouLend's recent announcement of strategic partnerships with platforms such as Etsy, FreshBooks and Paysafe in the US.
The financing facility builds on a multi-year relationship between YouLend and Castlelake across multiple geographies in Europe. In 2023, funds managed by Castlelake provided subordinated debt to support YouLend UK's private securitization transaction. This new agreement between funds managed by Castlelake and YouLend will enable YouLend to grow US originations by delivering fast, affordable solutions to even more small and medium sized businesses.
"The United States is a critical priority for us. We're thrilled to accelerate origination growth through this facility with Castlelake," said Anders Torpe Christoffersen, CFO at YouLend. "It allows us to further scale our platform as we seek to provide the best possible terms to our partners and their merchants. By increasing capital capacity and adding more diversification to our investor base, we believe we can better help small and medium sized businesses access the capital they need to thrive."
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