Part of PrimeRevenue's Multi-Funder Expansion Strategy to Offer Diverse Funding Options to Non-Rated and Sub-Investment Grade Companies
"This is a major milestone in the sub-investment-grade funder space," said Dominic Capolongo, PrimeRevenue's EVP, Global Head of Funding. "We are very excited to welcome BankUnited to our multi-funder family, which further positions us to offer additional funding opportunities for non-rated and sub-investment-grade companies."
BankUnited will begin funding both drafts and accounts receivables programs on PrimeRevenue's supply chain finance network in the mid-market buyers' supply chain finance solution.
The addition of BankUnited to PrimeRevenue's ecosystem of funding partners will generate significant growth and expansion opportunities for mid-market, non-rated and sub-investment-grade buyers and suppliers with programs on PrimeRevenue's network.
"We are extremely excited about our new relationship with PrimeRevenue, both to add to our own asset portfolio as well as to enable growing companies to optimize their working capital to invest in their future," said Thomas M. Cornish, Chief Operating Officer of BankUnited.
This new alliance is one of several in 2018 as PrimeRevenue continues to grow and diversify its pool of funding sources. With plans to continue adding new regional and community banks to the platform, PrimeRevenue will have more than 70 funders available to fund supply chain finance programs in 2019.
About BankUnited, N.A.
BankUnited, N.A. is a national bank and wholly-owned subsidiary of BankUnited, Inc. (BKU) and is headquartered in Miami Lakes, Florida. As of June 30, 2018, BankUnited N.A. has $31.3 billion in total assets, 87 branches in 15 Florida counties and five banking centers in the New York metropolitan area. One of the largest independent depository institutions headquartered in Florida by assets, BankUnited provides a wide range of commercial and consumer banking services. For additional information, call (877) 779-2265 or visit www.BankUnited.com. BankUnited can be found on Facebook at facebook.com/BankUnited.official and on Twitter @BankUnited.
PrimeRevenue's supply chain finance (reverse factoring) solutions help organizations in 70+ countries optimize their working capital to efficiently fund strategic initiatives, gain a competitive advantage and strengthen relationships throughout the supply chain. As the leading provider of working capital financial technology solutions, PrimeRevenue's diverse multi-funder platform processes more than $200 billion USD in payment transactions per year. The company is headquartered in Atlanta, with offices in London, Prague, Frankfurt, Hong Kong and Melbourne. Additional information about PrimeRevenue can be found at www.primerevenue.com | Twitter: @primerevenue | LinkedIn: www.linkedin.com/company/primerevenue.
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