Pirs Capital, a NYC-based fintech alternative lender specializing in Merchant Cash Advances, secured an increase to $15M of their existing credit facility.
The funding was provided by an institution specializing in providing working capital to high growth companies.
The company received the initial facility in February 2018.
Founded in 2012 and launched in 2013, Pirs Capital is a direct lender combining financial expertise with quality customer service to build lifelong relationships with clients to ensure mutual success.
The company’s platform includes:
– PIRS Portal, a proprietary, web-based, multifunctional platform that manages and configures all vital aspects of the funding process. It leverages a multi-variable credit model.
– PIRScore, a multi-variable credit model which leverages new machine learning techniques to continuously learn and adapt from live data to have access to insights when making funding decisions.
– DELTA Score, a multi-variable credit model leveraging trended data to take a 360-degree view of a merchant’s financials over time like personal/business credit, industry, volume, cash flow, debt, and more.