Solar Capital Partners and its affiliates will fund $30 million in second lien debt financing for BAMFi, a provider of fintech solutions. Hovde Group, a provider of advisory and capital raising services to the financial services sector, served as sole arranger and placement agent on the transaction.
Combined with BAMFi’s existing senior bank facility, this will ensure the continued growth of the company’s already robust fintech solutions enabling clients to scale and grow efficiently.
“BAMFi uses technology to help small and midsize businesses in the U.S. and Canada get access to capital and takes time-consuming back-office tasks off their plate. This financing provides non-dilutive capital at a critical juncture as we make continued investments in our technology and team,” said Todd Ehrlich, BAMFi CEO. “We are also pleased to be initiating a relationship with Solar Capital Partners.”
BAMFi’s fintech and cash flow platform provides customers with access to technology and capital to streamline back-office operations and scale faster. By applying world-class financial technology to the traditional funds transfer and advanced payment process, BAMFi clients see improved overall business financial performance. The company’s cloud-based technology enables faster access to capital and reduces days to pay, improving credit scores and building stronger vendor relationships while increasing cash flow.
Hovde Group, a provider of advisory and capital raising services to the financial services sector, served as sole arranger and placement agent in the transaction.
