Alantra advises Workcapital providing financing through a trade receivables securitization Fund

Mar 2024

SFABS – Sell-side

Madrid – Alantra acted as an advisor to Workcapital (“The Company”) to provide financing through a trade receivables securitization Fund. The underlying asset is a performing portfolio, well diversified, composed of invoices and promissory notes, to provide working capital solutions for SMEs in Spain.

Workcapital is a Spanish company, that has been operating in the market since 2015 as a financial services company, specialized in providing working capital solutions through promissory notes and invoices to SMEs. The Company has been increasing its portfolio over the past years healthy and organically since inception with no portfolio acquisitions. The facility will provide Workcapital an alternative source of funding to support the organic growth that has already experienced over the past years, hand-in-hand with a top international asset manager investor, with large track-record and experience in the receivables space.

Juan Carlos Grau, CEO of Workcapital S.A., stated: “I am thrilled to announce this important milestone in the journey of Workcapital. Today marks a pivotal moment as we have successfully secured funding from a prestigious investor fund, marking our inaugural entry into this area of financing. This achievement validates our vision and underscores confidence in our ability to deliver. As we embark on this new chapter, our commitment to excellence remains strong and firm.”

Fernando Fernández-Kelly, Managing Director at Alantra, added: “We are pleased to have supported Workcapital in achieving its objectives. The successful completion of the transaction highlights the proficiency, dedication, and expertise of Workcapital´s team, alongside the skills and capabilities of Alantra´s SFABS team. We are very thankful to all parties involved in making this deal a success for Workcapital.”

The securitization fund has achieved the financing from an international asset manager, who will be increasing the amount of financing as Workcapital continues increasing its portfolio achieving the business plan. The success of this transaction confirms the strong FIG-SFABS expertise in structuring securitizations in Spain, as well as the ability of FIG to build relationships with clients that lead to a series of new deals.