Swift Capital Secures $30 million in Series D Funding
Third Point Ventures Leads Financing to Expand Swift Capital’s Reach
Swift Capital, a leading provider of working capital for small businesses, announced today it has secured $30 million in Series D funding. The round was led by Third Point Ventures, a Silicon Valley-based emerging technology investment firm, with support from existing investors Sutter Hill Ventures, Khosla Ventures, and First Round Capital.
Swift Capital launched in 2011 with the simple idea that small business owners should be able to access business funding based on the strength of their business, not just their personal finances. Known for its superior customer service, Swift Capital is constantly looking for new ways to apply data and technology so small businesses can get working capital quickly.
With deep credit expertise, a highly targeted marketing strategy and relationship-based customer engagement, this recent round of funding will enable Swift Capital to accelerate its innovative approach to serving small businesses.
“Third Point has been watching the small business lending markets closely as companies are increasingly using online sources to address their borrowing needs,” explained Robert Schwartz, Managing Partner of Third Point Ventures. “The Swift Capital team has deep expertise in small business funding and their technology and relationship-based model stands out. We believe Swift represents the future of small business online lending.”
Third Point Ventures has an extensive history of investment in enterprise, mobile and healthcare innovation, particularly in the financial technology space. As a result of this Third Point Ventures-led funding, Swift Capital will have access to even more resources and an expanded reach to further provide small businesses with the working capital they need.
“This recent round of funding is a powerful endorsement of our unique approach to providing working capital and how well its resonating with the small business community,” said Ed Harycki, Founder and CEO of Swift Capital. “The support from Third Point Ventures and our existing investors enables us to extend our market reach, driving continued growth while delivering some of the best credit performance metrics in the industry.”
About Third Point Ventures
Third Point Ventures is the emerging technology investment arm of Third Point LLC. Third Point LLC is an SEC-registered investment adviser based in New York City. The firm was founded in 1995 by Daniel S. Loeb, who serves as its CEO and oversees all investment activity. Third Point employs an event-driven, value-oriented investment style. Third Point’s team includes professionals focused on investment activity, risk management and trading. This team is supported by highly experienced accounting, operations, investor relations and marketing, and legal and compliance professionals. For more information, please visit us at www.thirdpointventures.com.
About Swift Capital
Swift Capital’s mission is to unleash the potential of small businesses by providing them with the working capital they need when traditional banks fall short. Swift’s platform rapidly assesses the health of a business, allowing businesses to get a decision within minutes, with funding in as fast as one business day. Swift Capital combines its innovative data analytics with a relationship-focused customer experience to deliver a streamlined funding process and personalized approach. Swift Capital has provided nearly $1 billion in funding nationwide.
Swift is backed by Sutter Hill Ventures, Khosla Ventures, Third Point Ventures, First Round Capital, and SV Angel. To learn more about Swift Capital’s business funding products and to get a free, no obligation instant quote call 1-888-923-0007 or visit www.swiftcapital.com.
Head of Corporate Communications