Today, we’re pleased to announce a strategic partnership with Torro, the latest addition to our platform’s selection of small and medium-sized business (“SMB”) financing originators.
Torro, a Utah-based purchaser of future receivables from various merchants through the country, started out as a receivables purchase broker in 2015 and since grew its platform and capabilities to support its own purchase activities. Torro leverages a proprietary technology stack alongside a knowledgeable sales team and brokerage relationships to source and purchase best-fitting deals. The company began building its own portfolio in 2017 and, with its syndicated financing partners, has purchased more than $32 million in future receivables to hundreds of companies across the United States.
Charlie Lienau, Managing Director of Capital Markets at Cadence, noted that “Torro is a good example of a growing specialty finance firm that is both innovative and experienced. The management team has been in the receivables purchase space for years yet is constantly looking to improve its operations with technology.”
As an alternative investment platform, Cadence continues to offer accredited investors largely uncorrelated, high-yield investment products while providing flexible non-dilutive growth capital to its origination partners. Cadence is excited to include Torro in our growing community of best-in-class originators from across the private credit universe.
“We are honored Cadence has done the proper due diligence in reviewing our entire funding platform and are excited about the partnership ” said Cameron Montgomery, CEO of Torro. “We are at the forefront of the booming business funding industry. Torro takes pride in the fact we have built a self-sustaining platform. We streamlined the funding process and control all aspects of the business including direct to merchant marketing, proprietary technology, underwriting platform, and our in-house collections and legal team. With Cadence, we can strategically expand at a rapid pace. The partnership between Cadence and Torro allows us to best serve growing SMBs seeking funds to grow.”
This new partnership continues to illustrate Cadence’s commitment to support high-growth, tech-enabled originators. providing transparency and private credit investment opportunities to our growing investor base.
[This archived post was released at a time when Percent was formerly known as Cadence.]