Currency Capital, a Los Angeles, CA-based online equipment financing exchange serving owners of small- and medium-sized companies, raised a growth capital funding.
Lovell Minnick Partners made the investment, which will support Currency Capital’s growth strategies.
Led by CEO Charles Anderson and an executive team who will retain a significant equity interest in the company, Currency Capital operates an online portal that enables business owners to receive competitively priced loans for equipment purchases. Equipment buyers are also able to purchase equipment for sale by the company’s partners including eBay, Big Tex Trailers, IronPlanet and Proxibid.
Currency Capital has provided approximately $150m in loans to customers in 2016.