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eCapital

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eCapital
Company typePrivate
IndustryCommercial finance
Founded2006; 18 years ago (2006)
FounderSteve McDonald
HeadquartersMiami, Florida, U.S.
Area served
United States, Canada, United Kingdom
Key people
Marius Silvasan (CEO)
Steve McDonald (President)
Products
  • Freight factoring
  • invoice factoring
  • asset-based lending
  • payroll funding
  • healthcare receivables financing
  • lines of credit
Number of employees
700 (2024)
Websitewww.ecapital.com

eCapital, founded in 2006 and based in Miami, Florida, is a financial services company with operations spanning across Canada, the United Kingdom, and the United States.[1][2] The company specializes in asset-based lending, freight factoring, invoice factoring, healthcare receivables financing, and payroll funding.

Marius Silvasan currently holds the position of chief executive officer.[3]

History

[edit]

eCapital, originally established as Global Merchant Fund Corp. in 2006 by Steve McDonald, began its operations by acquiring underperforming loans from the Federal Deposit Insurance Corporation (FDIC), along with other banks and loan funds.[3][4][2]

In 2017, Global Merchant Fund Corp. expanded by acquiring Gerber Finance, a company that finances importers, distributors, manufacturers, and service providers.[5][6] The following year, 2018, saw the acquisition of Paragon Financial Group, a firm specializing in accounts receivable financing, credit protection, non-recourse invoice factoring, purchase order financing, and vendor guarantees.[5][6]

In 2019, Global Merchant Fund Corporation acquired Accutrac Capital, a company active in freight factoring, a sub-sector of transportation market.[7][6] Subsequently, through Accutrac Capital, the company acquired eCapital, a U.S.-based transportation factoring company.[8][9]

In 2020, Global Merchant Fund Corp. underwent rebranding to become eCapital and consolidated its various acquisitions.[3] In the same year, the acquisition of several companies: Advantedge Commercial Finance, a UK-based specialty lender and factoring company; Bibby Financial Services; REV Financial Group, based in Los Angeles; and Prosperity Funding, located in Fort Lauderdale occurred.[6][10]

In November 2021, eCapital acquired Flexible Funding, payroll funding firm specializing in funding assistance for the staffing industry, and its subsidiary, InstaPay, that provides freight factoring services.[6][11]

The company further expanded in 2022 with the acquisition of UMB Bank's accounts receivable financing division and a company called CNH Finance that was active in the healthcare sector.[6][12] This led to the establishment of eCapital's Healthcare division, dedicated to healthcare industry clients.[13]

eCapital operates within over 80 different sectors, including Transportation, Healthcare, Staffing, and Consumer Goods, among others. The company has also grown through acquisitions, incorporating twelve firms into its corporate structure.[14][15]

Industry applications

[edit]

eCapital's financial services are aimed at small and medium-sized businesses in North America and the UK.[2] These include eCapital Connect, a platform for managing financial transactions, alongside services like Invoice Factoring, Freight Factoring for transportation companies, and Factoring for commercial entities, Asset-based lending, healthcare receivables financing, and Payroll Funding specifically for staffing companies.[3][7] Clients may also acquire VISA Commercial Cards and Fuel Discount Cards accessible via a mobile app on both iOS and Android platforms.[16][17] Additionally, eCapital provides funding for high-growth companies, buyouts, mergers and acquisitions, extended payment terms, poor financial health situations, unexpected events, restructuring and turnaround scenarios, seasonal fluctuations, DIP financing, and startups.[18]

Management

[edit]
  • Marius Silvasan, the current Chief Executive Officer (CEO). He was formerly the CEO and director of ONE Bio Corp and a founder of Tele Plus World Corp. [19][20]
  • Steve McDonald, founder and current company President.[2][3]
  • Tony Howard (CCO)[21]
  • Tracy Groves (CMO)[22]
  • Mark Wilson (CTO)[23]
  • Peter Dahill (CFO)[24]
  • Tim Peters (President, Head of ABL Group)[25]
  • David Tilling, CEO, Head of UK Group[26]

Affiliations and other activities

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eCapital is affiliated with several industry organizations including the Secured Finance Network and the International Factoring Association.[27] eCapital also supports the American Staffing Association, Staffing Industry Analysts Association, Owner-Operator Independent Drivers Association (OOIDA), Women in Trucking Association, Colorado Trucking Association, Arkansas Trucking Association, the Orillia Chamber of Commerce, Turnaround Management Association, Secured Finance Network, American Factoring Association, and Association for Corporate Growth.[28]

Awards

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  • 2024 Inc. 5000 Fastest Growing Companies[29]
  • 2023 Inc. 5000 Fastest Growing Companies[30]
  • 2023 ABF Most Innovative Companies Award [31]
  • 2022 Best in Biz – Executive of the Year, Marius Silvasan[32]
  • 2022 Inc. Power Partner Awards[33]
  • 2022 ABF Most Innovative Companies Award[34]

Industry Reviews

[edit]

eCapital previously underwent a review consolidation by the Truckers Report website. The outcomings from this review indicate the company's overall impression was negative as of 2014.[35] Key issues highlighted include challenges with contract termination, difficulties in reclaiming escrow/reserve funds, delays in releasing UCCs, the complexity and mutability of web-based contracts, aggressive and misleading sales tactics, lack of customer support, poor communication, issues with fund releases and payments, and unauthorized factoring practices.[35]

Another review by Benzinga, in 2022, provided more positive ratings for eCapital, particularly in the field of financial services, citing easy qualification requirements and fast approval of credit as among the advantage of availing the company's services.[36] The site mentions eCapital as suited to companies that require quick access to cash, those in the midst of expansion, businesses recovering from challenging periods, entities aiming to acquire other companies, and firms favoring asset-based lending.[36]

Products and services

[edit]
  • Freight factoring, invoice factoring, healthcare receivables financing, asset-based lending, payroll funding.

References

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  1. ^ "Best Factoring Companies of 2022". Investopedia.
  2. ^ a b c d Prior, Jon. "Fort Worth firm that vacuumed up soured loans after 2008 crisis raises new fund". Dallas Business Journal. Retrieved 2022-05-04.
  3. ^ a b c d e Young, Vicki M. (2021-04-20). "This Growth-Hungry Factoring Firm Has Funding for Fashion—and Freight". Sourcing Journal. Retrieved 2022-05-04.
  4. ^ "Ecapital Holdings Corp". Bloomberg. Retrieved 2022-05-04.
  5. ^ a b "Startups too small for traditional banks, VCs could access financing from restructured eCapital Corp". Retrieved 2022-05-04.
  6. ^ a b c d e f "Our History".
  7. ^ a b "Ahead of the Curve: Charles Sheppard Takes Alternate Route Through Mainstream". ABFJournal. 2022-10-05.
  8. ^ "Global Merchant Fund Acquires eCapital". abf journal. 2019-06-28.
  9. ^ McQueen, Barrion (2023-04-16). "Championing SMBs: How eCapital is Accelerating Access to Capital and Shaping the Future of Finance". South Florida Digest. Retrieved 2024-03-20.
  10. ^ "ECapital receives loan for purchase of Advantedge Commercial". S&P Global. Retrieved 2022-05-04.
  11. ^ Ifasso, Plamedie. "Miami-based capital solutions provider acquires Fort Worth payroll funding firm". Dallas Business Journal. Retrieved 2022-05-04.
  12. ^ "eCapital Acquires CNH Finance - News | Equipment Finance Advisor". www.equipmentfa.com.
  13. ^ "eCapital Launches New Healthcare Division, eCapital Healthcare - News | Equipment Finance Advisor". www.equipmentfa.com. 2022-09-13.
  14. ^ "Freight financing: Lender merges acquired brands to tap into logistics consolidation power". The Journal of Commerce. Retrieved 2024-03-19.
  15. ^ Gonzales, Alejandro (2021-04-14). "US-based eCapital Corp sees 66.5% rise in YoY gross revenues in 2020". Leasing Life.
  16. ^ "eCapital Corp. Announces Collaboration with Visa® Delivering Commercial Credit Products to Freight Clientele". www.prnewswire.com. 2021-08-09. Retrieved 2024-03-20.
  17. ^ "eCapital Powers Fast Funding with New Mobile App for Small Fleets and Owner/Operators". GlobeNewswire News Room. 2018-09-12. Retrieved 2024-03-20.
  18. ^ "Financing Buyouts, Mergers & Acquisitions | eCapital Alternative Finance". eCapital. Retrieved 2024-03-20.
  19. ^ Ocejo, Michelle. "Interview with Marius Silvasan, CEO of eCapital". sfnet.com. Retrieved 2024-03-20.
  20. ^ "Marius Silvasan | CEO - eCapital". Forbes Business Council. Retrieved 2024-03-20.
  21. ^ "eCapital Corp. Promotes Howard to Chief Credit and Portfolio Officer - News | ABL Advisor". www.abladvisor.com. Retrieved 2024-03-20.
  22. ^ "Tracy Groves, Chief Marketing Officer, eCapital". abfjournal.com.
  23. ^ Parker, Lisa (2022-05-26). "eCapital Appoints Mark Wilson as Chief Technology Officer". citybiz. Retrieved 2024-03-20.
  24. ^ "eCapital Announces Peter Dahill as New CFO, Cris Neely Transitions to Strategic Advisor Position". IFA Commercial Factor. Retrieved 2024-09-12.
  25. ^ "eCapital Names Peters Head of Asset-Based Lending Group". abf journal. 2023-08-12.
  26. ^ "Advantedge Commercial Finance changes name to eCapital". The Business Magazine. 4 April 2022.
  27. ^ eCapital. "eCapital Becomes Newest Member of the Blockchain in Trucking Alliance (BiTA)". www.prnewswire.com. Retrieved 2024-03-20.
  28. ^ "International Factoring Association Appoints New Advisory Board Members - News | ABL Advisor". www.abladvisor.com. 2021-07-26. Retrieved 2024-03-20.
  29. ^ "eCapital Ranks in Inc. 5000". abfjournal.com/.
  30. ^ "eCapital - Inc". INC.com.
  31. ^ "2023 Most Innovative Companies Issue". abfjournal.com.
  32. ^ "2022 Winners". Best in Biz Awards.
  33. ^ "eCapital". Inc.com.
  34. ^ "ABF Journal's 2022 Most Innovative Companies in Specialty Finance". Abfjournal.
  35. ^ a b "Trucking Companies Review eCapital Freight Factoring". The Truckers Report.
  36. ^ a b Radanovic, Goran. "2024 eCapital Review • Business Loans + Funding". Benzinga.
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