Merchant Growth, a Vancouver-based financial technology company focused on small business financing, has secured C$4.1 million in funding. The round was backed by unidentified individual investors. Merchant Growth said the external fundraising is its first since inception in 2009.
VANCOUVER, BC, Oct. 18, 2021 /CNW/ – Merchant Growth, Canada’s fintech leader in small business financing, today announced it has secured C$4.1 million of equity capital. This round is backed by multiple individual investors well known in the fintech space and some of which have been Merchant Opportunities Fund investors for some time. This is the company’s first external equity raise since inception in 2009.
With this investment, Merchant Growth will further develop its sales & marketing departments as well as its technology teams to offer new products that are consistent with its mission to provide the most convenient and accessible financing experience for Canadian small businesses.
David Gens, Founder, President & CEO of Merchant Growth notes: “The COVID pandemic has disrupted all sectors of the economy, but none more so than the small business sector. While extraordinary government stimulus programs have helped support the sector, these programs are transitory and small businesses will be forced to transition to other capital sources in the years to come. We want to do everything possible to ensure Canadian small businesses have access to capital once stimulus programs are no longer in place, and this funding helps us bolster our organization capabilities so that we can ensure we’re ready to deliver that”.
About Merchant Growth
Merchant Growth is a leading Canadian financial technology company that specializes in small business financing. Over the past decade, Merchant Growth has supported Canadian businesses with hundreds of millions of dollars in growth financing. Using an innovative approach that includes the latest technology, complete transparency and thoughtful customer care, Merchant Growth is committed to helping make business financing easy to understand and accessible. To learn more, visit: www.merchantgrowth.com.