PrimeRevenue and BankUnited Announce New Alliance
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 buyer’s supply chain finance program.
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 announcement comes ahead of a planned expansion in PrimeRevenue Capital Management, a venture launched in mid-2015 focused on offering alternative funding sources for its corporate clients and investment opportunities for investors looking to access new income sources.
About BankUnited, N.A.
BankUnited, N.A. is a national bank and wholly-owned subsidiary of BankUnited, Inc. (NYSE: 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.