eCapital Corp. (formerly Global Merchant Fund Corp.), a Miami, Florida-based provider of customized funding for business growth, acquired 100% of the ownership equity of Prosperity Funding Inc., a Fort Lauderdale-based factoring company.
The amount of the deal was not disclosed.
The acquisition – made through one of eCapital’s subsidiaries, will enable eCapital to deepen product offerings and exposure to the Staffing industry.
Founded in 2007, Prosperity has focused on providing accounts receivable financing and working capital solutions to small and medium-sized companies throughout the United States. Though Prosperity finances clients across numerous industries, it has a focused specialty within the Staffing industry.
Led by Marius Silvasan, CEO, eCapital is committed to supporting small and middle-market companies in the Unites States and Canada by accelerating their access to capital through asset-based lending, factoring and supply chain financing. In addition to eCapital Corp.’s direct lending activities, its portfolio companies — Gerber Finance, Inc., Paragon Financial Group and the Commercial Finance and Freight Factoring divisions of eCapital — offer alternative finance solutions across a broad set of industries. eCapital Corp.