Marco Financial closed an $11.5 million asset-based lending/purchase order financing deal with MV Communications Group, an international electronics and accessories distributor based in Doral, FL.
Marco Financial hired Sabrina Teichman as chief growth officer and Prajwal Manalwar as chief product officer. Teichman joined after serving as managing director for the DFC and Manalwar joined after a career at PayPal.
Marco Financial, a Miami-based financial technology and trade finance company, added Chip Scoggins, Carlos M. Herrera and William C. Avedon to its business development team.
Marco Financial established a factoring facility for a processor and marketer of Persian limes grown and processed on farms located in the company’s Veracruz, Mexico, facility and distributed from its facility in Pharr, TX.
For its next monthly livestream event of 2021, ABF Journal will gather a panel of experts from Gerber Finance, Marco Financial and PNC Business Credit to discuss the evolving art of business development on April 29 at 3 p.m. EST.
Marco Financial established a $600,000 factoring facility for a New York-based staffing company that provides temporary personnel to global technology firms.
Marco Financial delivered a $2 million expandable receivables-based finance facility for a Midwestern domestic distributor of personal protective equipment.
Marco Financial established a $750,000 factoring facility for a New York-based staffing company specializing in providing law firms with temporary legal personnel.
Marco Financial provided an international trade finance facility totaling $9 million to Spectralink Corporation, a Boulder, CO-based portfolio company of Sun Capital Partners and provider of on-site enterprise mobile communication solutions.
If you haven’t heard of Marco Financial yet, you will soon. The “tech-enabled” factoring startup launched in 2020 with its sights set on the SME and trade financing world, specifically in Latin America. The company currently plays on the lower end of the capital spectrum, with most of its initial deal opportunities below $1 million, but with an impressive executive team, a heavy reliance on technology and the financial backing of some heavy hitters in the venture capital space, the company is poised to grow far beyond its current capabilities.