i80 Group, an investment firm focused on providing structured credit to the financial services sector, closed a $300 million credit facility with Brim Financial, a payments, credit card and financial technology platform.
The facility will provide a funding solution for enterprises, fintechs, credit unions and banks that are choosing Brim’s technology platform to modernize their payments products.
“Brim is reshaping the payments and credit card landscape with a modern platform that provides turnkey, cutting edge technology for banks and credit unions,” Peter Frank, managing director at i80 Group, said. “We are excited to partner with Brim’s leadership team to provide asset-based capital to Brim’s customers. This facility underscores i80’s commitment to backing financial services companies that are scaling and building durable, long-term businesses.”
Rasha Katabi, founder and CEO of Brim Financial, said, “We are thrilled to partner with i80 Group, whose deep expertise in credit and fintech makes them an ideal funding-as-a-service partner. This facility is transformative for Brim’s bank, fintech and credit union partners, providing the resources to accelerate their product launches and deliver on our vision of empowering customers and partners with the most advanced cards and payments platform in the market.”
