Debt Capital Markets
Senior Secured Credit Facility
FundThrough, a fintech company that helps small- and medium-sized businesses optimize cash flow using their outstanding customer invoices, has received a $50 million (C$66mm) investment from Northleaf Capital Partners.
The Northleaf investment expands FundThrough’s funding resources to serve more small- and medium-sized businesses in the United States and Canada at a time when governments are scaling back lending programs, large companies are extending payment terms to their smaller suppliers, and traditional financial institutions are tightening credit in the face of the 2020 economic slowdown and threat of renewed lockdowns.
The new investment also addresses small business cash flow challenges as government funding programs are coming to an end. As a result, cashflow remains a top concern for companies. Roughly 50% of Canadian small businesses list cash flow as their No. 1 concern, according to the CFIB. Meanwhile, the JPMorgan Cash Institute said at the start of the COVID pandemic that 50% of U.S. small businesses had a cash buffer of fewer than 15 days.
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