PIRS Capital Secures $15M in Financing Following a Year of Record Growth
MARCH 26, 2019
PIRS Capital, a leading fintech alternative lender specializing in Merchant Cash Advances, has secured an increase to $15M of their existing credit facility from an institution specializing in providing working capital to high growth companies. PIRS Capital previously announced their obtaining the initial facility in February 2018.
This latest round of financing comes on the heels of a record-breaking year for PIRS Capital. The company achieved unparalleled results which included a record year of revenue growth, significant upgrades to their technology and advancements to their credit scoring models.
“Thanks to our incredible team, 2018 was a breakout year for us” said Andrew Mallinger, COO of PIRS Capital. “We almost doubled revenue, funded 40 percent more small businesses and delivered cutting edge innovations to both our partners and clients”
PIRS Capital’s ongoing momentum speaks to the power of being a direct lender who is focused on building genuine relationships with their customers by making smart, technology-enabled funding decisions. “In an industry with a mixed reputation, small business owners are not just looking for the best offers available, but for a partner who cares about the success and well-being of their business” added Mallinger.
Coming into the close of the year’s first fiscal quarter, PIRS Capital is optimistic of its future and hopes for an even stronger 2019. “The immense growth that we’ve been able to achieve in the past year is a testament to the huge increase in demand for our services”, said Faisal Khan, Director of Marketing at PIRS Capital. “We are already seeing an increase in demand this year and are projecting a 33% increase in applications. We’re expecting 2019 to be our biggest year yet!”
About PIRS Capital
PIRS Capital launched in 2013 with one objective in mind: to ensure client success when funding small businesses across the nation. Since then, PIRS has always strived to differentiate themselves for their customers and partners by making intelligent, personalized, tech-enabled business decisions that ensure mutual success. Learn more at https://pirscapital.com