Today, we are pleased to announce that Uplyft Capital, a Florida-based borrower, syndicator, and third-party marketplace for merchant cash advances joins Percent’s Borrower platform. As a technology-driven innovator in merchant cash advances for nearly a decade, Uplyft is the latest Percent partner that provides innovative small and medium-sized business financing providers.
Uplyft Capital’s “Purple Platform” acts as both a merchant cash advance marketplace for its funding partners as well as an end-to-end software solution to drive its own origination, underwriting, and servicing processes. Since 2015, Uplyft has facilitated the purchase of nearly $30 million in merchant receivables for hundreds of unique businesses across the United States.
“We’re pleased to launch the inaugural note for Uplyft Capital on our platform, says Jon Urgell of Percent’s Capital Markets team. “They have significant experience providing capital to SMBs throughout the US, and have developed in-house technologies that allow them to service their clients efficiently. Their robust acquisitions and underwriting capabilities make them a positive addition to our strong roster of borrowers, and further positions Percent as a leading partner for specialty finance businesses such as theirs.”
This new partnership with Uplyft further illustrates Percent’s commitment to support growing tech-enabled borrowers offering groundbreaking new improvements to the world of private credit.
“Uplyft Capital is proud to partner with Percent in fulfilling our mission to provide quick and convenient funding to business owners via ‘Purple,’ our mobile friendly, AI-driven platform,” says Eric Kigathi, CTO of Uplyft. “
As a financial technology company and alternative investment platform, Percent offers accredited investors largely uncorrelated, transparent, high-yield investment products while providing non-dilutive growth capital to its origination partners. With the exciting addition of Uplyft to our borrower network, we will continue to build an extensive network of best-in-class private credit partners while furthering our goal of transforming the industry for the better.