FOR IMMEDIATE RELEASE
September 28, 2022
Backd Business Funding closes on a facility with Fortress Investment Group
AUSTIN, TX - September 28, 2022 - Backd Business Funding partnered with Fortress Investment Group in August 2022 to finance a new lending program.
The facility that Backd closed with Fortress Investment Group will start at $50 million, with the option to extend to $100 million. Xan Myburgh, CEO of Backd Business Funding, said “the new funding facility will immediately address our capital requirements for 2021 and beyond. As the economy rebounds from the COVID pandemic, this facility strategically positions Backd Business Funding to fully support businesses and assist in their growth and success moving forward.”
Backd is a FinTech company headquartered in Austin that provides alternative financing solutions like working capital and line of credit for growing businesses across the nation.
For more information, visit backd.com, email email@example.com or call Jess at (972) 896-9222.