YouLend, a worldwide embedded financing platform, introduced right this moment the institution of a brand new three-year financing facility with funds managed by Castlelake, a worldwide various funding agency specializing in asset-based personal credit score.
This settlement permits YouLend to considerably broaden its lending capability within the U.S., with the potential to increase over $1 billion in revenue-based financings to small and medium-sized companies (SMBs) over the subsequent three years.
So far, YouLend has funded greater than 200,000 SMBs worldwide. Castlelake’s prior financing investments have helped YouLend ship over $1.3 billion in SMB financing throughout the UK and Europe.
This new financing facility strengthens YouLend’s U.S. investor base and enhances its potential to supply quick and inexpensive financing options to extra companies.
“The US is a vital precedence for us. We’re thrilled to speed up origination progress by way of this facility with Castlelake,” says Anders Torpe Christoffersen, CFO at YouLend. “It permits us to additional scale our platform as we search to supply the absolute best phrases to our companions and their retailers. By growing capital capability and including extra diversification to our investor base, we imagine we will higher assist small and medium-sized companies entry the capital they should thrive.”
This deal builds on a long-standing partnership between YouLend and Castlelake, which has already spanned a number of geographies. In 2023, funds managed by Castlelake supplied subordinated debt to assist YouLend’s personal securitization transaction within the UK.
The brand new U.S. settlement will allow YouLend to develop its originations within the nation, providing extra SMBs fast entry to financing choices.
YouLend has quickly expanded within the U.S. lately, forging partnerships with platforms reminiscent of Etsy, FreshBooks, and Paysafe to ship tailor-made financing options for SMBs. With a 90% approval charge and fast time-to-market, YouLend has already supported hundreds of SMBs throughout the nation.
This announcement follows YouLend’s celebration of a significant milestone, having funded 200,000 SMBs globally. YouLend’s companions estimate that companies funded by YouLend expertise a median 26% uplift in gross sales inside six months of receiving funding, contributing over $10 billion to GDP throughout YouLend’s core markets so far.
