The Fundworks, a technology-enabled small business finance company, closed $30 million of senior secured notes to a group of institutional investors. This transaction refinanced the company’s existing $20 million of senior secured notes and provides substantial excess capital to fund the continued growth of its small business funding platform.
Brean Capital served as the company’s exclusive financial advisor and placement agent on the transaction.
“We are very pleased to announce this financing, which will allow us to continue our growth this year after record-setting funding volumes in 2021,” Evan Smiedt, co-founder and CEO of the Fundworks, said. “This additional capital positions The Fundworks to continue its mission to provide growth capital to small businesses nationwide.”
“Given current volatile markets, we are particularly pleased with the continued support of holders of our previous note issuance, as well as the participation of new investors in the transaction,” Bradley Smiedt, co-founder and chairman of the Fundworks, said.
