KATONAH, NY / ACCESSWIRE / October 1, 2019 / Modeso LLC dba RapidFunds (“RapidFunds” or the “Company”) announced today that it has closed on a $70 million term loan facility, consisting of a $40 million delayed draw term loan and $30 million accordion feature, with a multi-billion dollar institutional investment firm. This financing provides the Company a long-term capital partner to enable RapidFunds to grow its business and expand its network of law firm relationships.
Founded in 2004 by a group of former career attorneys, RapidFunds is a leading post-settlement litigation finance company that is engaged in accelerating the working capital conversion cycle for U.S. plaintiff law firms awaiting disbursement of proceeds from a legal settlement. The Company has funded over 2,300 transactions representing over $160,000,000 in total origination volume.
“We are delighted to have completed this important financing transaction for RapidFunds,” said Peter Speziale, President & CEO of the Company. “Our new senior credit facility provides us with significant capital to expand our business, as well as a long-term partner that will add tremendous value to our company. We’d also like to extend our appreciation to Bryant Park Capital, who was invaluable to RapidFunds over the course of this financing process.”
Bryant Park Capital LLC served as exclusive financial advisor to RapidFunds in connection with this transaction.
For over 15 years, RapidFunds has assisted U.S. plaintiff law firms in accelerating the receipt of attorney fees in legal settlements. With a focus on superior client service and speed of execution, the Company has provided innovative financing solutions to hundreds of law firms nationally.
For more information about RapidFunds, please visit www.rapidfunds.com.
About Bryant Park Capital
Bryant Park Capital (“BPC”) is an investment bank providing M&A and corporate finance advisory services to emerging growth and middle market public and private companies. BPC has arranged lines of credit, raised growth equity, and assisted in mergers and acquisitions for its clients. BPC’s professionals have completed over 300 assignments representing an aggregate transaction value of over $64 billion.
For more information about Bryant Park Capital, please visit www.bryantparkcapital.com.
Bryant Park Capital
Joel Magerman, Managing Partner
Phone: (212) 798-8212
Matt Pennino, Managing Director
Phone: (212) 798-8216
Peter J. Speziale, President & CEO
Phone: (914) 552-4261
SOURCE: Modeso LLC dba RapidFunds
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