CFG Merchant Solutions Enhances Partnership with Arena Investors
CFG Merchant Solutions is building upon its partnership with Arena Investors, in conjunction with Ceteris Portfolio Services, an Arena servicing affiliate, in servicing and providing liquidity to Platinum Rapid Funding’s merchant portfolio.
CFGMS is a capital provider to SMEs and an originator of advances to merchants, providing in excess of $400 million merchant cash advances since 2015. Arena has been CFGMS’s primary capital partner since 2016.
“Arena is pleased to continue its partnership with CFGMS and its senior management team consisting of CEO, Andrew Coon, chief legal officer and general counsel, Robert Martini, and president, William Gallagher. Together, we remain deeply committed to serving the needs of PRF’s existing customers, particularly for ongoing financing and liquidity needs in an environment when even much larger businesses struggle to attract capital," Victor Dupont, who leads Arena’s investments in the financing of the SME sector, said. "We welcome further involvement with PRF’s customers and their affiliated ISOs and are committed to working collaboratively with all throughout the COVID-19 crises and beyond.”
“Arena and its affiliates have built a reputation as a group that combines uniquely flexible capital with broad-based expertise in servicing, resolutions and SME finance,” Coon said. “So, while we excel at sourcing, originations and underwriting, we felt that they brought a critical level of IP and know-how that is uniquely suited to benefit all parties in today’s environment. Combining forces to offer a broader set of servicing solutions to the MCA market segment made complete sense.”
“Ceteris is excited to work with CFGMS and Arena by offering best-in-class servicing strategies and assisting merchants in a difficult economic environment,” Jonathan Pike, CEO of Ceteris, said.
Headquartered in New York, CFGMS specializes in providing financing to support the growth and development of underserved small-to-medium sized businesses that lack access to traditional bank funding. Founded in 2010, CFGMS’s affiliated company, CapFlow Funding Group, provides factoring, purchase order finance and asset-based lending solutions.
Arena Investors is a global alternative investment firm.
Ceteris is a servicing company providing debt recovery solutions and other related services for consumers and commercial businesses.