Lower middle-marker private equity firm Rotunda Capital Partners has invested USD20 million into StreetShares, a provider of small business loans and government contract financing for businesses owned by members of the military and veterans’ community.
The investment provides growth capital for StreetShares and establishes Rotunda Capital as the Company’s largest investor.
“StreetShares has built a differentiated financial services platform by combining a military-affinity focus, cutting-edge credit application and adjudication technology, and an experienced and dedicated team,” says John Fruehwirth, Managing Partner at Rotunda. “We are pleased to help StreetShares continue to dramatically improve access to credit for veteran-owned small businesses while providing unique investment opportunities for their supporters.”
StreetShares’ technology captures the social loyalty that exists within the military and veterans’ community and harnesses that trust to lower risks in financial transactions. The StreetShares’ model provides lower interest rates to borrowers and higher returns to investors.
“Rotunda Capital’s experience in growing both financial services and fintech platforms will be exceptionally valuable in this new, exciting phase of our growth,” says Mark L Rockefeller, CEO of StreetShares. “The StreetShares’ team is thrilled to partner with investors who not only bring deep expertise, but also share the StreetShares’ vision of providing value to a unique and special community of businesses, and putting our members’ needs first.”
“Built by veterans, for veterans, the Company’s unique mission-driven ethos is evident throughout the organisation,” adds Bob Wickham, Partner at Rotunda Capital. “Rotunda is proud to join StreetShares in supporting the millions of our military heroes that are pursuing their entrepreneurial dream.”
