White Oak Commercial Finance (WOCF), an affiliate of White Oak Global Advisors, upsized a $10 million factoring facility to a worker management software company by an additional $15 million. The now $25 million factoring facility will serve as working capital to support the company’s growth in the artificial intelligence space.
“We are excited to expand our partnership with this cutting-edge company and provide them with the financing solutions needed to support their rapid development within the ever-evolving artificial intelligence space,” Martin Efron, head of factoring at WOCF, said. “As we approach the second half of 2024, we look forward to fostering and deepening collaborations with companies that show strong growth trajectories in sizable markets.”
WOCF closed the original $10 million factoring facility in December of 2023, supporting the company’s expansion following a successful equity raise.
