QuadPay scores direct lending deals from Goldman Sachs, Oaktree

QuadPay has received a $200 million line of credit from Goldman Sachs and Oaktree Capital via the Finitive private credit platform. Goldman is providing a senior secured committed revolving line of credit facility to the company, while Oaktree Capital offered mezzanine financing. Both firms have made significant inroads into the private credit market, especially as of late as institutional investor interest in private debt deals continues to soar. The global payments industry is an emerging area of interest within the alternative investment space, with private equity firms taking stakes in firms such as Klarna and dLocal earlier this month. QuadPay partners with retailers to allow their customers to pay via installments for merchandise purchased online or in-store. Earlier this month, QuadPay recently merged with Zip Co Ltd (ASX: Z1P), to create a $2 billion global payments business. The combined entity has over 4 million customers and 26,000 merchant partners. Goldman Sachs and Oaktree with advisory from Finitive created a facility that was structured in a special purpose vehicle (SPV) secured by QuadPay’s existing installment receivables portfolio. The Finitive platform offer access to a broad spectrum of alternative lending investments spanning the non-bank lending sectors, including specialty finance, online lending, marketplace lending and private credit funds. The founder of Finitive, Jon Barlow, previously founded Eaglewood Capital Management, which was sold in 2014 to an affiliate of Marshall Wace LLP. “QuadPay has a strong management team and compelling offering. During our matching process, QuadPay garnered significant interest and term sheets among institutional investors interested in investing in the company’s growth,” said Caroline Hayes, co-founder and president of Finitive. “We look forward to seeing QuadPay expand its merchant base and services with the support of two strong institutions.”

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