eCapital acquired 100% of the ownership equity of Prosperity Funding, a Fort Lauderdale, FL-based factoring company. Founded in 2007, Prosperity has focused on providing accounts receivable financing and working capital solutions to small- and medium-sized companies throughout the United States. Although Prosperity finances clients across multiple industries, it has a focused specialty within the staffing industry.
“We are excited to finalize the acquisition of Prosperity and deepen our product offerings and exposure to the staffing industry,” Marius Silvasan, CEO of eCapital, said. “This transaction furthers our corporate mission of providing financing to key, strategic industries while continuing as a leading North American provider of working capital to the SME market.”
eCapital supports small and middle-market companies in the United States and Canada by providing access to capital through alternative financing solutions like factoring, lines of credit and asset-based lending. Through its commercial finance and freight factoring divisions and its portfolio companies — Gerber Finance and Paragon Financial Group — eCapital offers alternative finance solutions to a broad set of industries.
