Announcements
Fundfi Merchant Funding Expands Senior Credit Facility to Accelerate Growth in Revenue-Based Financing
April 7, 2025NEW YORK, NY — April 7, 2025 — Fundfi Merchant Funding, a leading provider of revenue-based financing solutions for small and medium-sized businesses, today announced the successful expansion of its senior credit facility. This strategic financial move will enable Fundfi to increase its funding capacity and support more businesses across various industries.
The expanded credit facility strengthens Fundfi’s position in the alternative lending space and allows the company to meet the growing demand for flexible, revenue-based financing options among entrepreneurs and business owners seeking capital without diluting equity.
“This expanded credit facility marks a significant milestone in Fundfi’s journey and reflects the confidence our financial partners have in our business model and growth trajectory,” said Efraim Kandinov, CEO of FundFi Merchant Funding. “By increasing our lending capacity, we can help more businesses access the capital they need to innovate, expand, and thrive in today’s competitive marketplace. Our revenue-based financing approach continues to resonate with entrepreneurs who value flexibility and alignment with their business performance.”
The increased credit facility will enable Fundfi to extend its reach to underserved markets while enhancing its product offerings to meet diverse business needs.
“The expansion of our senior credit facility provides Fundfi with enhanced financial flexibility and improved terms that will directly benefit our clients,” said Natasha Dillon, CFO of FundFi Merchant Funding. “This achievement reflects our strong financial performance, robust underwriting standards, and the growing recognition of revenue- based financing as a viable alternative to traditional funding options. We’re excited to deploy this additional capital to support innovative businesses that drive economic growth and job creation.”
Fundfi’s revenue-based financing model allows businesses to repay their funding as a percentage of future revenues, creating an aligned incentive structure that adapts to business performance. This approach has proven particularly valuable for seasonal businesses and companies with irregular cash flow patterns.
About FundFi Merchant Funding
Fundfi Merchant Funding is a leading provider of revenue-based financing solutions, helping small and medium-sized businesses access growth capital without sacrificing equity or control. With a streamlined application process and flexible repayment terms, Fundfi has established itself as a trusted financial partner for entrepreneurs across various industries and across the United States and Canada. For more information, visit www.fundfimerchantfunding.com.
NMEF Acquires Pawnee, Marking a Significant Milestone of Growth and Industry Leadership
April 1, 2025
April 1, 2025, NORWALK, CT – North Mill Equipment Finance LLC (“NMEF”), a leading independent commercial equipment lender and lessor headquartered in Norwalk, Connecticut, is pleased to announce that it has closed on its acquisition of Pawnee Leasing Corporation and certain other assets (“Pawnee”) from an affiliate of Chesswood Group Limited (“Chesswood”) pursuant to final approval from the U.S. Bankruptcy Court for the District of Delaware as a result of a court-supervised Sale and Investment Solicitation Process initiated in Canada in December 2024. NMEF acquired substantially all of Pawnee’s assets, while certain excluded assets and liabilities were transferred to a newly formed entity, which will remain subject to Canadian and U.S. restructuring proceedings.
With the addition of the Pawnee portfolio of leases and loans, NMEF’s total gross receivables under management now exceed $2 billion, marking a significant milestone in the company’s growth trajectory. The Pawnee and Tandem brand names will be retired, and no new originations will occur under Pawnee’s former referral partner programs. The servicing of Pawnee’s managed investment partnerships has been transferred to NMEF. More than half of Pawnee’s former employees are joining NMEF and will be located mostly in Ft. Collins, Colorado. These highly skilled professionals—primarily in Collections, Legal Recoveries, Data Analytics, Customer Service, and Accounting—demonstrated exceptional resilience and dedication throughout a challenging transition.
“We are thrilled to finally complete the acquisition of Pawnee after years of discussions with Chesswood,” said David C. Lee, Chairman and CEO of NMEF. “Pawnee has been in business for over 40 years and was the gold standard for referral partner-based small-ticket equipment financing—so much so that we modeled many aspects of NMEF’s business strategy around Pawnee following our recapitalization in 2018. Through no fault of Pawnee’s first-rate management team, the company endured financial distress when Chesswood filed for creditor protection in Canada and Delaware in late 2024, ultimately resulting in the court- sanctioned sale to NMEF.”
“The acquisition of Pawnee is immediately accretive to NMEF,” said Mark Bonanno, President and Chief Revenue Officer of NMEF. “We successfully refinanced approximately 50% of Pawnee’s assets at significantly improved cost of funds and leverage levels, driving an attractive return on equity for our stakeholders.”
“We went from court approval to closing in just over three weeks which was only made possible by the incredible collaboration between our companies,” said Tom Lyle, Executive Vice President and Chief Operating Officer. “I couldn’t be more impressed by how our two teams, aligned around a common goal, came together and delivered. I have the highest respect for the former Pawnee team and am excited to welcome them into the NMEF family – stronger together.”
Truist Securities, Inc. acted as exclusive U.S. financial advisor to NMEF, while Oaklins Canada served as NMEF’s Canadian financial advisor. Legal counsel for NMEF was provided by Moore & Van Allen (U.S.) and Blake, Cassels & Graydon LLP (Canada). FTI Consulting Canada Inc. served as the court-appointed Monitor of Chesswood, including Pawnee. Legal counsel for the Monitor was provided by Osler Hoskin and Harcourt LLP (Canada), Alston & Bird LLP (U.S.), and Young Conaway Stargatt & Taylor LLP (Delaware).
About NMEF
NMEF originates and services small to mid-ticket equipment leases and loans, ranging from $15,000 and to $5,000,000, for many diversified industry segments including the construction, transportation, vocational, medical, manufacturing, technology, franchise, renovation, janitorial and material handling industries. NMEF is majority-owned by an affiliate of InterVest Capital Partners. The company’s headquarters are in Norwalk, CT, with regional offices in Irvine, CA, Ft. Collins, CO, Voorhees NJ, Murray, UT, and Montego Bay, Jamaica. For more information, visit www.nmef.com. Taycor Financial operates as an independent division of NMEF, with a focus on developing direct and vendor origination programs. For more information, visit www.taycor.com. One of NMEF’s controlled affiliates, BriteCap Financial LLC, is a leading non-bank lender providing small businesses with fast, convenient financing alternatives such as working capital loans from its main office in Las Vegas, NV. For more information, visit www.britecap.com.
Cloudsquare Unveils the Innovative Credibly Integration
March 31, 2025
Los Angeles, CA – March 17, 2025 – Cloudsquare, the leading end-to-end lending platform powered by Salesforce, is once again pushing the boundaries of efficiency in the Merchant Cash Advance (MCA) industry. The company has just announced its latest API integration with Credibly, a trusted name in business financing, promising to transform how brokers and lenders manage deal submissions, approvals, and funding workflows.
With automation at the core, this integration eliminates the tedious, manual processes that slow down funding, giving brokers and lenders a direct pipeline to Credibly’s lending platform—all within Cloudsquare.
A Smarter, Faster, and More Reliable Lending Workflow
Cloudsquare’s Credibly Lender API Integration delivers a suite of powerful features designed to help brokers move deals through the pipeline faster than ever:
✅ Seamless API Submissions – Send applications directly from Salesforce to Credibly—no emails, no extra steps.
✅ Bulk File Uploads – Upload multiple documents at once, improving operational efficiency.
✅ Real-Time Status Tracking – Stay updated on submission progress and approvals instantly.
✅ Automated Decline Insights – Get detailed rejection reasons, allowing brokers to refine applications and increase approval rates.
✅ Smart File Management – Reduce storage burdens by sending secure file URLs instead of large attachments.
“Speed and efficiency are everything in MCA, and our integration with Credibly ensures brokers and lenders never lose momentum,” said Jeffrey Morgenstein, CEO at Cloudsquare.
Redefining MCA Lending with Cloudsquare
Cloudsquare continues to lead the way in MCA technology, delivering seamless integrations and smart solutions that help brokers scale their businesses with confidence. With the addition of Credibly’s API, the company reinforces its commitment to faster funding, smarter lending, and better broker-lender collaboration.
Want to see the Cloudsquare + Credibly integration in action? Visit Cloudsquare today to learn more.
About Cloudsquare
Cloudsquare is the leading end-to-end lending platform, uniquely powered by Salesforce to deliver unparalleled flexibility and innovation for lenders and brokers. With a commitment to optimizing lending processes through cutting-edge technology, Cloudsquare provides robust, scalable solutions that empower clients to achieve greater efficiency and growth. Celebrated by industry leaders, Cloudsquare has earned a place on the Inc. 5000 list as one of America’s fastest-growing companies and is consistently rated a top service provider on platforms like Salesforce AppExchange, G2, Clutch, and Manifest.
For media inquiries, please contact:
Cloudsquare Marketing
Email: marketing@cloudsquare.io
TBF Announces Development of Commercial Debt Pricing Algorithm
March 25, 2025HIGHWOOD, IL, March 25, 2025 – TBF has announced the development of a proprietary algorithm – its Data Driven, True Market Pricing – to calculate the value of commercial debt. The company is using the algorithm to offer lenders and lessors competitive prices for non-performing equipment loans and leases, commercial bank loans, online small business loans, lines of credit, merchant cash advances (MCAs) and commercial credit card accounts in the United States, said CEO Brett Boehm.
“The pricing algorithm is based on debt recovery data from more than 27 years in the business, through every economic cycle. This includes detailed data on all types and grades of commercial paper,” Boehm explained on the company’s new website.
“Our CFO Adam Boehm developed the algorithm to ensure the prices we quote are aggressive while still reflecting the fair market value of the assets. You want to offer the highest, realistic price for the debt that benefits the seller and also your business,” he noted.
“If you pay too much for commercial debt, then you lost on the deal at the time of closing. The crux of this business is buying right. TBF has that in spades based on its history of recovery data.”
Debt acquisition is a long established practice in commercial finance. In 1998, TBF was the first company to buy charged-off equipment leases, and since then has expanded to acquire a variety of commercial debt from equipment finance companies, banks, online commercial lenders and merchant cash advance businesses.
The company specializes in pool sizes starting at $5 million to more than $100 million, typically buying non-performing commercial accounts after they have been worked internally and reached the charge-off stage. They may have personal guarantees or no personal guarantees, be secured or unsecured, pre-agency or post-agency, or pre-litigation and/or reduced to judgment.
The Technology and People Behind TBF
TBF’s new website provides insights into its pricing algorithm and debt buying process. The site also features photos and background highlighting the people behind the company – a growing team dedicated to helping lenders and lessors recover value from their distressed accounts, Boehm said.
About TBF
TBF is the leading purchaser of non-performing equipment leases, commercial bank loans, online small business loans, merchant cash advances and commercial credit card accounts in the United States. For more information visit tbfgroup.com, call 847.267.0600 or connect with us on LinkedIn and X.
BriteCap Financial Expands Team to Support Growth
March 10, 2025LAS VEGAS, NV – March 7, 2025 – BriteCap Financial, a leading provider of tailored financial solutions for small businesses, has announced the addition of three key hires to support its continued growth: Cary Thomas as Director of Collections, Sherri Johnson as Senior Accountant, and Amy Thompson as Digital Brand and Content Manager. These strategic hires
underscore BriteCap’s dedication to operational excellence, financial strength, and brand innovation.
“Building a world-class team is essential to delivering exceptional value to our customers and driving sustainable, smart growth,” said Richard Henderson, CEO of BriteCap Financial. “These new additions bring valuable expertise that will enhance our operations and elevate our brand presence.”
Cary Thomas joins BriteCap as Director of Collections, bringing a wealth of expertise in financial recovery and collections management. With his extensive background in optimizing recovery strategies, he will lead initiatives to enhance efficiency, improve collection processes, and uphold strong client relationships. Thomas’s leadership and strategic approach will play a key role in strengthening BriteCap’s financial operations while maintaining a customer-centric focus.
Sherri Johnson has been appointed as Senior Accountant after making a significant impact as a contractor. With a strong track record of driving operational efficiencies, Johnson will contribute to enhancing the company’s financial stability and supporting its long-term growth.
Amy Thompson, joins BriteCap as Digital Brand and Content Manager, bringing her expertise in visual storytelling and strategic content creation to help elevate BriteCap’s digital presence.
Thompson will focus on crafting compelling visuals and engaging content across digital platforms to strengthen brand recognition, deepen customer connections, and amplify the company’s marketing impact.
BriteCap Financial, a proud member of the NMEF family of companies, has recently gained recognition for a series of strategic initiatives, including securing a $150 million credit facility last year and expanding its leadership team to position the company for long-term growth. With a focus on innovation and a customer-centric approach, BriteCap continues to enhance its product offerings, including attractive term loans for small businesses and a seamless online checkout system designed for merchant and broker convenience.
“We are excited about the momentum we are building and remain focused on driving long-term shareholder value while delivering innovative financial solutions to our customers and our broker partners who serve them,” added Henderson.
For more information about BriteCap Financial and its suite of financial solutions, visit www.britecap.com.
About BriteCap Financial
BriteCap Financial, as part of the NMEF family of companies, is a leading provider of working capital loans for America’s small business owners. Since 2003, BriteCap has been combining technology, an extraordinary experience, and non-traditional credit algorithms to provide fast, convenient and affordable working capital loans directly to businesses or through their exclusive network of broker partners. If you wish to be considered for joining our exclusive broker partner network, please visit https://www.britecap.com/partners.
Media Contacts:
For BriteCap:
David Schneider
Vice President of Marketing
BriteCap Financial, www.BriteCap.com
david.schneider@britecap.com
954-494-1606
For NMEF:
Blair Dawson
SVP, Chief Marketing Officer
NMEF, www.nmef.com
bdawson@nmef.com
203-354-1710
Jack Dorsey is Satoshi Nakamoto?
February 25, 2025If you’ve seen the analysis that connects Jack Dorsey to Satoshi Nakamoto floating around the web, that was researched by yours truly. I first proposed the possibility on February 24, 2024 and have since discovered a lot of compelling evidence to really support it. Here is a link to the recent tweet that went viral on the matter and a mirror of that tweet with source links. This is hardly all that I have. I did tag Dorsey so that he could see it but he did not reply to it or directly weigh in.
I have been following Dorsey’s company Square for deBanked since 2011.
In early 2024, a legal trial commenced on the matter of Satoshi Nakamoto’s identity (Crypto Open Patent Alliance v Craig Steven Wright) for which Dorsey played a key role to prove that an individual named Craig Wright was NOT Satoshi. Wright had been claiming such for some time.
As part of the trial, a large trove of new emails and testimony surrounding Bitcoin’s founding were disclosed, including many emails written by Satoshi himself (Emails with Martti Malmi / Emails with Nicholas Bohm). Before the judge made a ruling on the outcome, Dorsey made interesting remarks in Block’s Q1 2024 earnings announcement on May 2, 2024. He mentioned Satoshi the person as the basis for the company’s crypto strategy. While skeptics have chalked this up to simple fandom or ideology, it was wholly unnecessary to reference Satoshi the person and potentially risky if he doesn’t know Satoshi’s true identity. Coinbase, for example, lists “the identification of Satoshi Nakamoto, the pseudonymous person or persons who developed Bitcoin, or the transfer of Satoshi’s Bitcoins” as a risk factor to revenue. Block makes no such disclosure despite nearly half of the company’s revenue being derived from Bitcoin sales.
From Dorsey’s Block shareholder letter on May 2, 2024:
These statements could have been made without referencing Satoshi by name, especially in an era where longtime Bitcoin advocates have sought to minimize the influence of Satoshi the individual today. However, these statements would be very fitting if the CEO was speaking about himself.
Block has also self-published a book titled My First Bitcoin and the Legend of Satoshi Nakamoto which glorifies Satoshi and concludes by stating that “Satoshi’s vision is having an impact all around the world.” Hard copy print versions of the book were also made and distributed. deBanked obtained a copy.
That viral post again with source links can be found here. I am not an investor in bitcoin or Block. My experience with Bitcoin over the past 10+ years is as a payments mechanism, namely as peer-to-peer cash.
My email is sean@debanked.com
Broker Battle 2025 Champions
February 24, 2025Broker Battle 2025 took place at the Fontainebleau on February 20th during deBanked CONNECT MIAMI. Video highlights and more will be available soon. In the meantime, here are the results and the top brokers:
Revenue Based Financing
Top Broker: Ryan Showe, Lexington Capital Holdings
Runner-up: Joe Sasson, Advance Funds Network
Equipment Financing
Top Broker: Mike Brooks, Best Connect Capital
Runner-up: Yaro Yarema, Capital MBS
Britecap Financial Appoints John Corona as Director of Partner Success
February 24, 2025BriteCap Financial LLC (“BriteCap”), a leading non-bank lender providing small businesses with fast, convenient, and affordable working capital, is excited to announce the appointment of John Corona as Director of Partner Success. John brings with him more than a 10-year track record of significant accomplishments in business financing and partner development.
“We’re thrilled to welcome John to BriteCap and the NMEF family of companies,” said Richard Henderson, CEO of BriteCap. “I’ve had the privilege of working with John for over a decade, and he’s one of the best in the business at optimizing broker partnerships. His unmatched service and deep industry knowledge make him a perfect fit for our mission to elevate the funding experience for our exclusive broker network.”
John remarked, “I’m excited to be joining the BriteCap team, especially during a time in which it’s ascending to a position of prominence within the space. Joining an all-star team with an all- star product and platform is an amazing opportunity and I can’t wait to assist in its growth.”
About BriteCap Financial LLC
BriteCap Financial is a leading provider of working capital for America’s small business owners. Since 2003, BriteCap combines technology and non-traditional credit algorithms to provide fast, convenient, and affordable working capital directly to businesses and through their broker network. For more information about becoming a partner, visit britecap.com/partners. BriteCap is majority-owned by a holding company affiliate of NMEF.
About NMEF
NMEF is a national premier lender who works directly with third-party referral (TPR) sources to finance “mid-ticket” equipment commercial leases and loans ranging from $15,000 to 3,000,000 and up to $5,000,000 for investment grade opportunities. The company accepts A – C credit qualities and finances transactions for many asset categories including but not limited to medical, construction, franchise, technology, vocational, manufacturing, renovation, janitorial, and material handling equipment. NMEF is majority owned by an affiliate of InterVest Capital Partners. The company’s headquarters are in Norwalk, CT, with regional offices in Irvine, CA, Voorhees, NJ, and Murray, UT. For more information, visit www.nmef.com.
Media Contacts:
For BriteCap:
David Schneider
Vice President of Marketing
BriteCap Financial
www.BriteCap.com
david.schneider@britecap.com
954-494-1606
For NMEF:
203-354-1710
Blair Dawson
SVP, Chief Marketing Officer
NMEF
www.nmef.com
bdawson@nmef.com
