Leading innovative, Phoenix based, specialty finance lender, announces a new credit facility to further fuel its growth to tech enabled, recurring revenue businesses across the US.
Phoenix, AZ October 1, 2018 – RevTek Capital, a wholly owned subsidiary of Wisper Ventures, announced today the launch of a new credit facility with a fund managed by Medalist Partners. The new facility will enable Wisper Ventures, dba RevTek Capital, to continue its steady expansion of recurring revenue lending programs to early stage, tech enabled businesses in the SaaS, PaaS and wireless technology industries across the country.
“Medalist is an ideal partner to support our growth,”
said Scott Peters, Managing Partner of RevTek Capital.
“They understand our business and the markets we serve, providing the support necessary to efficiently meet the high demand for capital in the rapidly expanding emerging growth, recurring revenue industry, where access to traditional capital is limited.”
The facility will support RevTek Capital’s portfolio growth, providing capital to smaller, established companies with predictable recurring revenue and related assets to accelerate their growth and maximize enterprise value for the owners, where access to traditional debt is limited, and institutional equity is highly dilutive to business owners. At RevTek, our goal is to grow our customer’s business, not own their business.
“We believe the combination of strong underwriting, product innovation, and a top-notch management team is a great recipe for success,” said John Slonieski, Director of Private Credit for Medalist Partners. “We are excited to add this credit facility to our portfolio of high-quality asset-backed lending programs.”
Since its inception in 2014, RevTek Capital has grown its origination volume, focusing on wireless technology companies with predictable recurring revenues, while expanding its reach to other recurring revenue industries with rapid growth, such as SaaS, PaaS, IoT and other service related businesses.
“We are privileged to have Medalist as a partner on our growth journey”, said Scott Peters.
“This new partnership is key to our bringing more of our expertise and capital to business owners looking to build that ‘next best’ product and service.”
About RevTek Capital
RevTek Capital is a leading specialty finance company, leveraging years of early stage lending and investing to provide a focused credit solution to emerging, predictable recurring revenue/subscription-based businesses across the country. Our goal is to help entrepreneurs grow their business while maximizing enterprise value for owners and their management team. To learn more about RevTek Capital, please visit www.revtekcapital.com.
About Medalist Partners
Medalist Partners is an SEC registered investment manager with more than $1 billion of assets under management. The New York based firm manages strategies in specialty finance and structured credit. The business and track record was started within Credit Suisse and Candlewood Investment Group, LP prior to being spun-out as an independent, partner-owned firm in 2018. To learn more about Medalist Partners, please visit www.medalistpartners.com.