FGI Worldwide, a New York-based global commercial finance leader, completed a $140M financing.
Backers included new equity investors. In addition, the company announced the refinancing and expansion of its senior credit facility, agented by Citizens Bank, which includes local credit lines in the U.K. and Canada.
The company intends to use the funds to continue to expand its business offerings to include domestic and international asset-based lending.
Led by David DiPiero, President and CEO, and Sami Altaher, Executive Director, FGI Worldwide offers an array of customized financing and risk management solutions.
As a specialist in international finance, the company became an early adopter of credit insurance as a risk mitigation tool. Their focus on cross-border lending, supported by credit insurance, led them to develop FGI T.R.U.S.T.TM, a real-time, web-based credit insurance management platform being utilized by both companies and by financial institutions to ensure compliance of their credit insurance policies or portfolios of policies across multiple carriers.