QuickFee Limited (ASX:QFE) (“QuickFee”) today announces it has partnered with Northleaf Capital Partners (“Northleaf”), a global private markets fund manager, for a new USD70 million asset-backed receivables financing facility to fund QuickFee’s future growth across the USA and Australia.
Commenting on the new funding facility, QuickFee CEO Eric Lookhoff said:
I am delighted to be partnering with Northleaf Capital and incredibly excited that they will be supporting the scaling of the QuickFee business in both the USA and Australia.
Quickfee has continued its encouraging start to FY22 after a pleasing first quarter, where the Company saw substantial expansion in all of its go-to market channels, as well as a recovery in lending in Australia. The additional funding provides QuickFee increased liquidity in the medium term as the Company continues to expand in its key accounting markets, and accelerates its growth across its BNPL offering in the services sector.
We look forward to sharing more on the facility and progress on our strategy, at our investor day on Friday, 19 November.
QuickFee was advised on the transaction by D.A. Davidson & Co., a US-based full-service investment bank.
This announcement has been authorized for release by the directors.