BriteCap Financial Ramps Up Team, Ready For Growth

The stream of announcements coming out of BriteCap Financial garnered notice. It started with news of a $150M credit facility back in August, followed by announcements of a new CEO, CFO, CCO, VPs, and more. The new CEO, Richard Henderson, whose CV includes previous roles at CAN Capital, Marlin Capital Solutions, and Direct Capital, told deBanked that the company wanted to have the right team in place to carefully grow the business. BriteCap, which is part of the North Mill family of companies, offers attractive term loans to small businesses.

As part of the plan, the company is looking to add not just new brokers but the right brokers, especially given the upstream programs they offer to merchants.

“We’re being very selective on who we onboard,” said Henderson. “We’re trying to make sure that we’ll use that to get to scale, but also to build powerful relationships with those brokers where it’s a true partnership.”

BriteCap has developed an online checkout system to streamline the funding process. It can be configured to work with however the broker is used to working. They’ve focused a lot on the mobile experience so that a merchant need not even be in front of a computer to go through it.

One notable advantage to BriteCap is precisely that affiliation with the North Mill family because it opens up the possibility of not just working capital as a solution but also equipment finance. According to Henderson, the potential crossover between the products works well especially when the deals have been originated in the right context. That context includes the best practices and professionalism that equipment finance brokers typically operate within.

Among the C-suite executives to recently join BriteCap are Pushkar Choudhuri as Chief Financial Officer and David Lafferty as Chief Credit Officer. The timing of everything aligns with the firm’s economic sentiments. Henderson said that he believes optimism is higher now and growing.

“…generally speaking, we’ve seen demand picking up and we have a pretty bullish view on the economy moving forward,” he said. “I think we’re entering into a very good time in our space.”

Sean Murray is the President and Chief Editor of deBanked and the founder of the Broker Fair Conference. Connect with me on LinkedIn or follow me on twitter. You can view all future deBanked events here.