Specialty Finance Company Raises $100M and Relaunches as Parabilis
WASHINGTON--(BUSINESS WIRE)--Nov 14, 2018--PFF, LLC closed a $100M capital raise and changed its name to Parabilis. Founded in 2013, by Dr. Edward Bersoff, the specialty financing company will continue in its mission to provide working capital funding to companies serving the U.S. Federal Government.
Parabilis provides asset-based loans to small and medium size companies that have chosen not to, or are unable to receive funding from, traditional senior financial sources. The Company’s expertise lies in working with clients that are in transition, with near-term or intermediate funding requirements such as winning a large contract and funding the start-up payroll cycle.
“The Parabilis leadership team, with decades of military service and over 50 years of combined experience in the government contracting and finance industries, understands what our clients need to be successful,” said Bruce Lyman (Col USAF Ret), Chief Executive Officer of Parabilis. “With deep domain knowledge and expertise in the government contracting business, we partner with our clients to provide the financing needed to support contract execution and growth.”
Parabilis Chairman, Dr. Edward Bersoff, a longtime D.C. businessman who holds deep roots within government contracting, conceived of and launched the platform. Bersoff’s ties to the company have contributed significantly to its success. “We have grown to be one of the largest non-bank providers of working capital financing for our clients who support the U.S. Federal Government. Since our founding in 2013, our goal has been to help our clients make the best funding decisions for the growth of their businesses. With this new capital raise, we can continue to expand our support of small and medium size businesses who need a strong financial partner.”
Founded in 2013, based in Northern Virginia, and led by a group of seasoned government contracting and financial industry executives, Parabilis provides working capital funding to small and medium size companies serving the U.S. Federal government. Over the past several decades, Dr. Bersoff and his Co-founders, have raised hundreds of millions of dollars for both public and private companies. The Parabilis founders clearly recognized the need to provide financing to government contractors who were unable to secure traditional financing and ensure that small to medium size companies had the financial support to successfully win and implement government contracts.
To learn more about Parabilis, visit www.parabilis.com.
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CONTACT: Julie Ferguson
KEYWORD: UNITED STATES NORTH AMERICA DISTRICT OF COLUMBIA
INDUSTRY KEYWORD: PUBLIC POLICY/GOVERNMENT OTHER GOVERNMENT PROFESSIONAL SERVICES CONSULTING FINANCE
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PUB: 11/14/2018 10:34 AM/DISC: 11/14/2018 10:34 AM