FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
 
Skip Navigation LinksHome / News / Read News

Print

Brean Capital, RBC Capital Markets Serve as Advisors for Credibly’s Management Buyout

August 08, 2023, 07:07 AM
Filed Under: FinTech

Credibly, the data science-driven fintech lending platform that champions small and medium-sized businesses (SMBs), announced a management-led buyback of all the outstanding equity investment previously held by a prominent private equity firm. This buyout was financed through a new equity investment and the issuance of a new corporate note, which earned a BBB rating from Egan-Jones Ratings Company, a nationally recognized statistical ratings organization (NRSRO).

Brean Capital and RBC Capital Markets served as financial advisors on this transaction, and Brean Capital also served as the placement agent.

Credibly's co-Founder and co-CEO, Ryan Rosett, commented on the landmark move. "When we established Credibly in 2010, our mission was to deliver much-needed capital to the underserved small business market, which forms the backbone of economic stability and job growth in the US. Thirteen years in, we recognize the opportunity before us is even more substantial. As we reclaim full ownership of the company, we look forward to a promising future, anticipating continued growth and success for our management team, employees, and the small businesses we serve."

Michael Seneski, Credibly's Chief Financial Officer, shared the same optimism. "We're immensely proud of Credibly's robust and profitable growth over the years, a trend we intend to continue. Our superior platform and dedicated team are committed to Credibly’s core mission of providing essential capital to empower small businesses to grow and realize their full potential. We anticipate building on our successes and maintaining our status as an industry leader."








Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.