eCapital acquired the portfolio of UMB Bank’s accounts receivable financing division. This is the 11th acquisition for eCapital within the alternative finance sector in the last four years.
eCapital acquired the assets of Flexible Funding, a payroll funding company for staffing agencies across multiple industries, along with its freight factoring subsidiary, InstaPay.
eCapital launched a new commercial credit card program with Visa. The platform will provide clients with direct connections to the funds in their eCapital accounts and reporting to manage all Visa transactions.
In 2020, eCapital provided access to more than $4 billion in financing across 80 industries in the U.S. and Canada and also achieved an approximate 66.5% year-over-year increase in gross revenues and an approximate 56% year-over-year increase in portfolio size.
eCapital named James Poston chief sales officer. Poston has more than 14 years of experience in receivables financing and asset-based lending. Poston previously held the position of senior vice president for eCapital’s freight factoring division.
eCapital, an alternative finance provider in North America, promoted Jaime Gillespie to chief human resources officer. In her new role, Gillespie will oversee employee engagement, talent management and leadership development.
Credit funds managed by Ares Management provided North American alternative finance provider eCapital with financing for the company’s acquisition of Advantedge Commercial Finance, a UK-based, privately-owned invoice financing company.
Gerber Finance launched Gerber+, a division that services businesses seeking funding ranging from $10 million to $25 million. The company’s first client is Molded Acoustical Products of Easton, a full-service insulation manufacturing solutions company.
North American alternative finance provider eCapital named Tony Howard, formerly chief credit officer, chief credit and portfolio officer. Howard will oversee and manage credit risk and policy and portfolio performance and participate in acquisition initiatives.