STAMFORD, Conn., Feb. 20, 2024 (GLOBE NEWSWIRE) -- Finacity Corporation (“Finacity”), a White Oak Company, today announced that it has facilitated the funding of more than $1 trillion of trade receivables over the past 5 years on behalf of its clients. Finacity has leveraged its proprietary technology platform, developed and improved upon throughout its 23-year history, to significantly expand its global reach and operational capabilities, including daily collateral and monthly servicer reporting and an interactive web-based dashboard and visualization tool. Notable metrics during the past 5 years:
- 295,095,525 invoices individually tracked and evaluated to determine funding eligibility and advance rate
- 12,000,000 debtors financed
- 212 debtor countries and territories
- 133 collateral currencies
- 16 funding currencies
Jair Martinez, Finacity’s Chief Commercial Officer, stated: “We are incredibly proud to have reached these dizzying new levels of trade receivables activity, numbers that seemed unattainable when we launched Finacity in 2001. It is a testament to the caliber and professionalism of the entire Finacity team which has worked tirelessly on behalf of our clients to achieve this unprecedented level of success in our company’s history. Finacity’s continued growth reflects the expanded use of securitization by a wide range of public and private companies across debt ratings.”
Finacity’s flexible product offering affords companies of varying sizes, credit profiles, industries, and jurisdictions, the ability to significantly accelerate and simplify their access to working capital at competitive funding rates. Finacity has also successfully developed proven approaches for achieving off-balance sheet de-recognition for a company’s receivables under both U.S. GAAP and IFRS accounting standards.
About Finacity, a White Oak Company
Finacity, a White Oak Company, is the global leader in the structuring and provision of efficient capital markets receivables funding programs, including securitization, factoring, asset-backed loans, consumer loans financing, supplier and payables finance, back-up servicing, and transaction administration and reporting that is fully supportive of ESMA and STS reporting standards. With resources in the USA, Europe, Asia, and Latin America, Finacity is affiliated with White Oak Global Advisors, LLC, a leading alternative debt manager specializing in originating and providing financing solutions to facilitate the growth, refinancing and recapitalization of small and medium enterprises. For further information, please visit www.finacity.com.
For more information, please contact:
Finacity Corporation
Jair Martinez
Tel: +1 203-428-3575
Email:jmartinez@wofinacity.com
