Evolocity Financial Group Closes Significant Funding With Seer Capital Partners
Canadian Fintech Firm to Further Accelerate its SME Financing Platform
Montreal, Quebec – January 26, 2016 - Evolocity Financial Group, a leading financial technology platform providing small business loans and merchant cash advances to Canadian SME merchants, today announced that it has secured CAD $22.5 million in funding from Seer Capital Partners, a diversified, NY-based credit-focused investment firm with over USD $2 billion under management. Evolocity Financial will use the additional debt and equity to expand and accelerate the growth of its popular SME financing programs.
“Our business continues to grow very rapidly and over the past year, we have invested heavily in our technology and infrastructure, expanded our product offerings and established important financial partnerships” said Neil Wechsler, CEO of Evolocity. “We are proud to partner with the Seer Capital team. This transaction, coupled with our technology driven platform, fuels our strategy of helping small businesses in Canada succeed by providing quick access to the working capital they need to grow.”
Evolocity Financial uses proprietary risk scoring models, data aggregation and electronic payment technology along with financial performance data to underwrite and facilitate small business loans and merchant cash advances to borrowers across Canada.
About Evolocity Financial Group
Evolocity Financial Group offers fast and flexible financing solutions to small and medium-sized Canadian businesses. With a simple online application process, Evolocity Financial Group is focused on SME merchants and is a great source of growth capital, quickly. A Canadian company, Evolocity understands the unique cash flow demands affecting small businesses, and has developed an innovative approach to SME financing. For more information, please visit www.evolocity.ca.
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