Small and medium-sized enterprises financial services provider Preference Capital Group has secured R450-million in capital from diversified financial services management firm Rand Merchant Bank (RMB).
This funding will enable it to expand its lending portfolio and continue providing innovative financial solutions to South African businesses through its multiple product offerings.
“This additional funding validates our business model and enhances our ability to offer tailored financial solutions that meet the unique needs of our clients. We are excited to continue this journey with RMB by our side,” said Preference Capital CEO Jonathan Goldberg.
The funding will enable Preference Capital Group to drive its vision of empowering small and medium-sized enterprises as vital contributors to economic development.
With this capital, Preference Capital aims to extend its reach, improve accessibility to funding for underserved businesses, and contribute to the sustainable growth of the South African economy.
RMB’s support reflects strong confidence in Preference Capital’s lending strategy, he said. 