Today, we’re pleased to announce a strategic partnership with ByzFunder, the latest at Cadence in a series of new developments with innovative small and medium-sized business (“SMB”) financing providers.
Established in 2018, ByzFunder is a New York-based provider of financing to small and medium-sized business across the U.S. The company is led by an experienced management team who has previously also founded a leading independent sales organization specializing in merchant advance financing to small businesses. Since its inception, ByzFunder has provided more than $35 million in capital to hundreds of companies operating predominantly in the construction, transportation, healthcare, manufacturing, and retail trade sectors.
Charlie Lienau, Managing Director of Capital Markets at Cadence, notes that “We are very excited to partner with ByzFunder, a fast-growing player in the MCA space and a fantastic fit for our CadencePrime product suite. Their robust performance, backed by technology driven underwriting and an experienced management team, positions them for ongoing success that we are happy to be a part of.”
This new partnership continues to illustrate Cadence’s commitment to support growing tech-enabled borrowers bringing much needed improvements to the private credit markets.
Ilya Fridman, CEO of ByzFunder, adds that “We are pleased to partner with Cadence on this opportunity. It’s an important milestone in our company’s growth trajectory and this partnership will allow us to capitalize on opportunities in 2021. We look forward to expanding our ability to provide the much-needed working capital to businesses across the U.S. post pandemic. “
As an alternative investment platform, Cadence continues to offer accredited investors largely uncorrelated, high-yield investment products while providing non-dilutive growth capital to its origination partners. Cadence is excited to partner with ByzFunder to continue building an extensive network of best-in-class partners across different corners of private credit.
[This archived post was released at a time when Percent was formerly known as Cadence.]