Credibly, a financial technology lending platform, completed a management-led buyback of all the outstanding equity investment previously held by a private equity firm.
Credibly, a data science-driven fintech lending platform, refinanced a maturing $10 million corporate note into a new five-year term. Brean Capital served as the company’s exclusive financial advisor and sole placement agent in connection with the transaction.
Since the start of the COVID-19 pandemic, struggling SMEs and SMBs have found it more difficult to find the capital they need to survive. At the same time, alternative lenders like fintechs have had to adapt their plans in order to continue being a reliable source of financing. Such creativity will still be needed in 2021 as more opportunities arise.
Fintech lending platform Credibly hired Michael Seneski as chief financial officer. He will be responsible for overseeing the company’s financial strategy to drive growth, operational excellence, and long-term market leadership.