LSQ Funding Group, an Orlando, Fla.-based technology-enabled provider of invoice (receivables) financing for small and midsized businesses, received $40m of capital.
Ares Capital Corporation (NASDAQ: ARCC), a large business development company and a middle market direct lender, provided the financing, which is in addition to the more than $100m investment in April led by Lovell Minnick Partners LLC.
The company intends to use the funds to accelerate its growth plans.
Led by CEO and founder Max Eliscu, LSQ Funding is an independent accounts receivable financing company. Founded in 1996 in the Orlando area, the company provides specialized accounts receivable financing to growing companies throughout the U.S., ranging from multi-million-dollar corporations to small businesses.