Platinum Funding Group Completes a Factoring Facility for a Governance Compliance Software Development Firm.
NEW YORK (PRWeb) Feb. 13, 2007 -- Platinum Funding Group announced a factoring facility for Certus Software, Inc. (“Certus”), which had sales of $12 million in 2006. Certus is a leader of corporate governance for Sarbanes-Oxley and Financial Compliance activities. Certus became a wholly owned subsidiary of Securac Holdings, Inc. last month following a merger.
Certus and Securac, both industry-leading providers of governance, risk and compliance software and services, anticipate strong growth in 2007 and 2008. Platinum Funding Group financed Certus within three business days of receiving Certus’ application. The working capital funding enables Certus to implement its business plan. In providing the funds, Platinum Funding Group allowed Certus to capitalize on its strong customer base, which includes Alcon, Inc., Dell, DIRECTV, Countrywide Financial, FirstEnergy, Great-West Life & Annuity Insurance Company, The Mills Corporation, PepsiCo, Polaroid, Seagate Technology, and Suntron.
Einat Steklov, the Senior Vice President of Platinum Funding Group, stated that “the increased focus on regulatory compliance brought an incredible opportunity to the Information Technology and Software Development industry and positioned Certus and other dynamic firms for a tremendous growth. Platinum Funding Group accounts receivable finance provides Certus with immediately available funds, to meet the cash flow requirements of this early stage company.”
Eyal Levy, CEO and founder of Platinum Funding Group, noted that “Platinum Funding Group has built a vast experience working with IT and software development firms over the last 15 years, and we are keenly aware of the unique revenue recognition and cash flows issues of this lucrative segment of the market. These are especially critical issues for businesses that are fast-growing but don't yet command the financial backing of traditional lenders."
About Platinum Funding Group
Platinum Funding Group is a leading factoring company that provides clients with accounts receivable funding, letters of credit, bridge funding and accounts receivable management. Established in 1992, Platinum Funding Group has consistently assisted companies with annual sales between $1 million and $150 million. Platinum Funding Group possesses the financial resources to serve the needs of companies across more than 30 industries. Platinum Funding Group issues same-day advances on accounts receivable to early-stage, fast growing firms and companies in Chapter 11. Platinum Funding Group is headquartered in New York City and has regional offices throughout the US.
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