PE Tech Report

NEWSLETTER

Like this article?

Sign up to our free newsletter

LSQ secures USD40m from Ares Capital Corporation

LSQ Funding Group has received USD40 million of capital from Ares Capital Corporation (NASDAQ: ARCC), the largest business development company in the United States. 

This USD40 million financing is in addition to the more than USD100 million investment in April led by Lovell Minnick Partners LLC, a private equity firm that specialises in the global financial services industry.

“I’m thrilled that another high-quality institutional investor is supporting our mission to simplify and streamline access to invoice financing for businesses of all sizes,” says LSQ Funding’s CEO and founder Max Eliscu. “We will use this capital to accelerate our plans, reinventing access to working capital financing for micro, small and mid-sized businesses alike.”

The investment has the potential to expand over time to support LSQ Funding’s growth strategies, which are differentiated by a decade of technology innovation, credit intellectual property, and bank partnerships. These differentiators have driven operating performance and LSQ’s growth, which exceeded 85 percent in 2014. Over its twenty years of operating history, LSQ has provided more than USD10 billion in invoice advances.

“Ares Capital is a well-respected provider of flexible capital, with a proven record of supporting the financing needs of privately-held companies across many different industries,” says LSQ Funding’s Chief Financial Officer Terry Ragsdale. “This capital, in combination with the investment from Lovell Minnick Partners, positions us to further expand our reach in the market.”

Like this article? Sign up to our free newsletter

MOST POPULAR

FURTHER READING

Featured