PIRS Capital, a NYC-based fintech alternative lender specializing in Merchant Cash Advances, secured an increase to $10M of their existing credit facility from an unnamed institution specializing in providing working capital to high growth companies.
The company, which obtained an initial facility in February 2018, intends to use the funds to accelerate demand of services.
Launched in 2013, PIRS Capital provides funding to small businesses making intelligent, personalized, tech-enabled business decisions based on a recently launched multi-variable credit model, called PIRScore. Developed by an expert team of data analysts, PIRScore compliments a hands-on underwriting process to more accurately measure credit risk by taking advantage of modeling practices and new machine learning techniques.
FinSMEs
27/08/2018