CAN Capital Introduces New CEO Edward Siciliano

Alternative SME financing pioneer CAN Capital has a new captain: Edward Siciliano, a commercial financing veteran with more than 30 years experience, will join the company as its new Chief Executive Officer.

“CAN Capital’s experience, brand recognition, data, and partner relationships make it uniquely positioned to support the expansion of the small businesses that drive the U.S. economy,” Siciliano said. “I look forward to building a leadership team and working together to expand our offerings, invest in talent and technology, and help our customers grow.”

Siciliano comes to CAN Capital after serving as Chief Operating Officer, Interim CEO and EVP, and Chief Sales Officer for commercial financial and depository product provider Marlin Business Solutions. He previously worked at Xerox Corporation, AppliedTheory Corporation, and ALK Technologies. CAN Capital’s Executive Chairman praised Siciliano as a “proven leader” who has “served the needs of small businesses while building loyal teams that deliver innovative products and a great customer experience.”

The new CEO is the latest big headline for CAN Capital. Last fall, the company announced that it had boosted its capital capacity by up to $287 million courtesy of a transaction with Varadero Capital. Varadero played a key role in CAN Capital’s return to funding in the summer of 2017.

Siciliano’s arrival marks CAN Capital’s second C-level hire in a year; the company appointed financial services industry veteran Tom Davidson as Chief Financial Officer last spring. In December of 2017, CAN Capital added a trio of executives in technology, business development, and modeling and analytics.

CAN Capital demonstrated its Mobile Funder solution at FinovateFall 2013. Mobile Funder is a tablet-based tool that helps highly-mobile financial sales professionals sell alternative capital products to SMEs. With more than $7 billion in funds accessed and 81,000+ small businesses served, CAN Capital was founded in 1998 and is based in Kennesaw, Georgia.

CAN Capital Receives $287 Million Financing Facility

Small business lending solution company CAN Capital has accepted a $287 million financing facility from alternative asset manager Varadero Capital. This marks the second time Varadero Capital has facilitated funds for the New York-based company.

CAN Capital plans to use the funds to support growth, invest in talent and technology, and enhance the customer experience. “We look forward to utilizing this funding to expand our ability to provide access to capital for small businesses, enhance our technology stack, and continue to build a dedicated, customer-driven team,” said Parris Sanz, CEO of CAN Capital.

Additionally, the company reached a milestone this week, having provided small businesses access to more than $7 billion in funding through 190,000+ transactions. “Reaching $7 billion in working capital is a significant milestone for us. We are excited to use our deep experience and data to enable even more small business owners to grow with streamlined access to capital,” Sanz added.

Founded in 1998, CAN Capital has helped 81,000 small businesses ranging from restaurants to auto repair shops by offering capital for them to open new locations, purchase equipment, hire employees, and more. The company last demoed at FinovateFall 2013, where it showed off its mobile funding solution. Earlier this year, CAN Capital appointed Tom Davidson as Chief Financial Officer.

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