A Midwestern Technology Company Strengthens Their Business with a $3,500,000 Facility from Prestige Capital
FORT LEE, NJ (AUG 2024) — A venture capital-backed Midwestern technology company specializing in worker verification services secured a $3.5 million financing facility from Prestige Capital to fulfill a new government contract and drive growth beyond its existing funding source.
While private equity firms provide substantial investments to technology companies, they rarely cover daily operational expenses. As a result, technology-focused banks often partner with Prestige Capital to help companies scale without the need for continuous capital reinvestment. By leveraging their invoices for funding, companies can ensure a steady cash flow for day-to-day operations.
Rachel Hersh, Sales Director, North America at Prestige Capital, commented, "The role of invoice finance in empowering technology firms to seize new opportunities and drive growth is incredibly rewarding."
This invoice financing equips the Midwestern technology company with the necessary resources to successfully expand their business and contribute to the local job market.
About Prestige
Since 1985, Prestige Capital, a commercial finance company, has been funding clients directly by turning invoices into cash. We purchase invoices from a broad range of companies with annual sales ranging from $2 million to $300 million. Prestige Capital continues to help companies that either do not qualify for traditional bank financing or need financing faster than a bank’s lengthy underwriting process allows.
Contact
Prestige Capital
400 Kelby St., 10th Floor
Fort Lee, NJ 07024 USA
Toll-free Phone: 877-944-4455