June 2019 by Finacity
Transaction enables a superior and comprehensive set of best in class financing solutions to solve an even broader range of client needs
Greensill, the leading non-bank provider of working capital finance for companies globally, is pleased to announce that Finacity Corporation (“Finacity”), the leader in specialised receivables securitisation, will become a fully owned subsidiary of Greensill. The partnership adds Finacity’s world leading receivables securitisation capabilities to Greensill’s market leading financing capabilities for all aspects of working capital finance.
Finacity is one of the most well-respected names in the receivables finance industry and currently facilitates the financing and administration of approximately $100 billion of receivables annually. With resources in the USA, Europe and Latin America, Finacity conducts business throughout the world in more than 175 countries, applying their innovative structuring and securitisation program monitoring services to deliver unrivalled financing results for its list of leading international clients.
By combining Finacity’s core securitisation expertise with Greensill’s broad range of financing solutions and deep, diversified funding sources, the partnership will enable a superior and comprehensive set of best-in-class financing solutions to solve an even broader range of client needs. Greensill will immediately expand the range of products and services available to both firms’ clients while Finacity will continue to deliver its exceptional services as a distinct operating company within the Greensill group under the continued leadership of Adrian Katz.
Lex Greensill, founder and CEO of Greensill, said: “We are enormously pleased to welcome Finacity into our rapidly expanding Greensill family, with its broad team of experts to cement our leadership position in the industry. Finacity’s reputation is unrivalled in its space, and its culture of creative problem solving to deliver exceptional results for clients fits perfectly with our own commitment to innovation and service. The addition of Finacity’s securitisation capabilities will be of immediate value to our global client base as we will leverage the platforms and leadership teams of both companies to enhance our joint capabilities.”
Adrian Katz, CEO of Finacity Corporation, said: “I am very pleased Finacity is joining the Greensill family of companies as it offers the perfect environment for us to achieve the maximum benefit for our clients and talented employees. From the first interaction with Greensill, it was clear that we shared a culture of creative problem solving and absolute commitment to client delivery.
“I strongly believe that any combination of our firm and a partner must provide the right long-term environment to sustain our people and capabilities. I am certain we have achieved this and am very excited to have found such a well-suited partner in Greensill.”
Mayer Brown were legal advisors to Greensill, Jones Day were legal advisors to Finacity on the transaction.
Greensill is the leading non-bank provider of working capital finance for companies globally. Founded in 2011, Greensill provides businesses with alternative sources of funding, allowing them to provide suppliers with the opportunity for faster payment, while at the same time preserving their own capital position. The company is headquartered in London with offices in New York, Frankfurt, Chicago, Miami, Singapore, Sao Paulo, Mexico City, Johannesburg, Sydney, Warrington and Bundaberg. Greensill provides Working Capital Finance facilities to customers across Europe, North America, Latin America, Africa, and Asia. The company owns Greensill Bank, which was founded in Bremen, Germany in 1927, has a suite of proprietary Supply Chain Finance Funds run by world leading fund management organisations, and works with more than 100 institutional investors that together provide stable funding. Greensill has extended more than $60 billion of financing to more than 8 million customers across 60 countries since inception.
About Finacity Corporation
Finacity Corporation specialises in the structuring and provision of efficient capital markets funding programs, state-of-the-art servicing, and transaction administration. Finacity currently facilitates the financing and administration of approximately $100 billion of receivables annually. With resources in the USA, Europe and Latin America, Finacity conducts business throughout the world in more than 175 countries. For more information on our company, please visit Finacity.com.