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FT Partners Advises Swift Financial on its Sale to PayPal

Overview of Transaction

  • On August 10, 2017, Swift Financial announced its sale to PayPal (Nasdaq:PYPL) for approximately $200 million
  • Headquartered in Wilmington, DE, Swift Financial was founded in 2006 and has since provided funding to over 20,000 businesses in the U.S. through a unique combination of data, technology and customer service
  • Swift Financial provides working capital to growing businesses through two options, loans and advances, through proprietary brands LoanBuilder.com and Swift Capital

Significance of Transaction

  • The acquisition will enable PayPal to better serve small businesses by enhancing its underwriting capabilities to provide access to affordable business financing solutions
  • While PayPal Working Capital provides access to capital based exclusively on proprietary insights, Swift's technology will allow PayPal to assess supplemental information to more fully understand the strength of a business and provide access to complementary financing products

FT Partners' Role

  • FT Partners served as exclusive strategic and financial advisor to Swift Financial in this transaction
  • FT Partners advised Swift Financial on its previous capital raises including financing from both Khosla Ventures and Third Point Ventures
  • This transaction further demonstrates FT Partners' continued success advising leading FinTech companies in the Alternative Lending space