ATLANTA, March 6, 2019 /PRNewswire-PRWeb/ -- BAMFi, a leading provider of fintech solutions headquartered in Atlanta, announced today the closing of $30 million of second lien debt financing from Solar Capital Partners, LLC and its affiliates. Combined with BAMFi's existing senior bank facility, this will ensure the continued growth of the company's already robust fintech solutions enabling clients to scale and grow efficiently.
"BAMFi uses technology to help small and midsize businesses in the US and Canada get access to capital and takes time-consuming back-office tasks off their plate. This financing provides non-dilutive capital at a critical juncture as we make continued investments in our technology and team," said Todd Ehrlich, BAMFi CEO. "We are also pleased to be initiating a relationship with Solar Capital Partners."
BAMFi's fintech and cash flow platform provides customers with access to technology and capital to streamline back-office operations and scale faster. By applying world-class financial technology to the traditional funds transfer and advanced payment process, BAMFi clients see improved overall business financial performance. The company's cloud-based technology enables faster access to capital and reduces days to pay, improving credit scores and building stronger vendor relationships while increasing cash flow.
Hovde Group, LLC, a leading provider of advisory and capital raising services to the financial services sector, served as sole arranger and placement agent in the transaction.
BAMFi is a leading provider of cash management and working capital solutions for transportation, construction, oil and gas and temporary staffing service providers, committed to helping clients increase their financial performance through operational efficiency. BAMFi's proprietary payment processing and cash management engine, allows businesses access to capital more quickly, reducing days to pay, improving credit scores and building stronger vendor relationships while increasing cash flow. Unlike traditional bank lending or factoring arrangements, BAMFi uses proprietary technology to improve access to capital across industries and service providers. Learn more at https://www.bamfi.com
About Solar Capital Partners, LLC.
Solar Capital Partners, LLC. ("SCP")is a private credit asset manager with direct sourcing and structuring expertise across a range of senior secured cash flow and asset-based lending solutions to middle market companies primarily in the United States. Since its founding in 2006 and through its diversified commercial finance platforms, SCP has invested approximately $9.5 billion in over 650 companies. SCP currently manages approximately $6.0 billion of investible capital in private debt portfolios through private credit funds, separately managed accounts and publicly-traded, closed-end registered investment funds.