Fintech small business lender CAN Capital enhanced its capital capacity with a $287 million credit facility from Varadero Capital, a New York-based alternative asset manager.
Tom Davidson joined fintech lender CAN Capital as chief financial officer. Davidson brings 25 years of financial services experience to the company, including expertise in capital markets, securitization, treasury, investor relations and risk management.
In the past decade, growth in financial technology has spawned a new generation of online lenders. These lenders use the latest technology to underwrite and finance small business loans. Customers can apply online and receive funding in 24 hours in some cases. ABF Journal Editor Nadine Bonner speaks with executives from three fintech companies that specialize in small business loans.
Bloomberg reported that fintech lender CAN Capital promoted Parris Sanz to acting CEO and Ritesh Gupta to COO while its current CEO, Dan DeMeo is on a leave of absence.