Finstock Capital, a venture debt and bridging loan provider based in London, supported Smart Pension to its successful £165m Series D fundraise. The capital was used for working capital as the company continued its fundraising strategy. Finstock Capital was introduced on the 12th May and made the loan on 27th May, a turnaround of 12 working days.
Eoin Corcoran, Group Finance Director of Smart Pension, commented ‘"We were introduced to Finstock as a provider of bridge financing in the run up to our Series D round. From our intro, right through to drawdown of funds, a little over two weeks elapsed, which is testament to the energy and pragmatism with which the team operate and clearly speaks strongly to the support and trust they have from their backers. I wouldn't hesitate to use Finstock again, nor to recommend them to anyone in my network who is looking for flexible access to capital."'
Mike Cass from Capitase.com further commented:
"We have been working with Finstock Capital for a few years now on their R&D tax credit lending product and have been aware of their ability to move quickly for the right venture debt / bridging transactions. After being introduced to Smart Pension through our trusted network, this felt like the perfect opportunity to put that to the test - and it has to be said that they exceeded my expectations. Finstock understood immediately what was required and were able to produce a term sheet extremely quickly and move rapidly through the due diligence process. To be able to turn a facility like this around in two weeks was very impressive."
Finstock's Edo Salvesen explained ‘we were delighted to support Smart Pension with a loan at such an important stage in their growth strategy - it has been a pleasure working with the team and we are excited about the global ambitions of the business going forward’.
Finstock provides capital to early stage businesses which are seeking short to medium term financial solutions, including non-dilutive venture debt, R&D loans and video game finance. Finstock has deployed over £20m into more than 100 businesses and continues to expand its offering by focussing on bespoke alternative solutions for growth businesses.
For more information, please contact info@finstockcapital.com