Fintech pioneer Yalber received a new $20 million credit facility from Park Cities Asset Management, an alternative credit manager focused on private lending across the specialty finance and FinTech sectors.
“Our main goal was to form a strong partnership with a creative and dynamic management team. Yalber’s new credit provider, Park Cities Asset Management, will support our funding capabilities and enhance our ability to take advantage of significant market opportunities,” said Yalber Chief Operating Officer Amotz Segal. “The new facility, from a leading institutional financing partner, is a validation of the strength of our team, our track record of success and the robust platform that Yalber has built. We are excited about the future.”
Proceeds from the transaction will be used to execute the company’s strategic growth plan and accelerate its ability to provide more small businesses with access to attractive non-bank financing.
Amir Landsman, Yalber CEO, said, “The small business funding space has drastically changed in the past two years. We see more and more sophisticated players in the space, and to me, it’s a sign that the industry is on the right track to be the major funding source of businesses in America. Being able to close two facilities within 15 months is strong evidence that Yalber has a lot to offer. As pioneers in this space, I think it’s important we stay ahead of the curve, specifically in terms of analysis of our merchant’s needs and our internal decision-making process. In that sense, Park Cities Asset Management and Yalber share the same vision.”
Yalber offers small business owners in a variety of industries across the U.S. the option to fund their businesses for any purpose with up to $500,000. The company’s technology-enabled platform allows for a streamlined process, with most qualified businesses funded within 24 hours.
Brean Capital served as exclusive financial advisor to Yalber on the transaction. Rob Piano, managing director, and Jack Schwartz, vice president, acted as exclusive advisors on behalf of Brean Capital.
Founded in 2007 and headquartered in New York City with strategic offices in Dallas, Los Angeles and San Francisco, Yalber is a technology-enabled specialty lender which has provided over $300 million in working capital to more than 15,000 businesses.
