Salt Lake City, UT – The Fundworks, LLC (“Fundworks” or the “Company”), a leading tech-enabled provider of financing for small businesses across the U.S., announced the recent extension of their $40.0 million investment-grade corporate notes. Transaction proceeds will be used to refinance debt, extend the Company’s maturity profile and to support continued origination growth.
Brean Capital, LLC served as the Company’s exclusive financial advisor and sole placement agent in connection with the transaction.
“We are encouraged by the continued support from investors and their confidence in our business” stated Evan Smiedt, Co-Founder and Chief Executive Officer. “This transaction strengthens our ability to invest in technology and AI infrastructure as we scale, which will enhance our underwriting capabilities and accelerate our origination growth.”
Bradley Smiedt, Co-Founder and Chairman, noted, “We are proactively taking steps to strengthen our balance sheet. By providing long-term capital visibility, these notes allow for greater flexibility in how we deploy capital to support small businesses across the nation.”
The Fundworks is a tech-enabled finance platform providing working capital solutions to merchants to grow their businesses, take advantage of short-term opportunities and fund seasonal business fluctuations. The Company’s proprietary technology platform makes the opaque, time-consuming process of obtaining capital simple, fast and reliable. Since inception, Fundworks has funded more than $1 billion to over 15,000 small businesses throughout the United States. The Company is headquartered in Salt Lake City, UT. For more information, please visit: http://www.thefundworks.com
Brean Capital’s Investment Banking Group is dedicated to helping its clients achieve their strategic and financial goals. For more than 50 years, the Firm has specialized in providing capital raising, M&A and financial advisory services to middle market businesses. Throughout its history, Brean Capital has established a track record of providing its clients with deep market knowledge, commitment and experience to ensure a successful transaction. For more information, please visit: www.breancapital.com/InvestmentBanking.