eCapital Corp. acquires staffing funding firm in bankruptcy court

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November 15, 2021

Today, eCapital Corp. announced it acquired the assets of Flexible Funding, a payroll funding company for staffing firms across multiple industries. The deal included Flexible Funding’s freight factoring subsidiary, InstaPay. A bankruptcy court judge approved the sale on Nov 8.

Flexible Funding had filed for Chapter 11 bankruptcy protection on Sept. 19 in the US Bankruptcy Court for the Northern District of Texas.

“The acquisitions of Flexible Funding and InstaPay supports our commitment to providing industry-leading financing solutions to staffing and transportation businesses,” eCapital CEO Marius Silvasan said. “Establishing a foothold in Dallas/Fort Worth will allow us to better serve our clients in the region and ensure we are well-positioned for further growth.”

Plans call for a continued presence in Fort Worth, Texas, with Flexible Funding and InstaPay staff remaining to support their existing client base. In August, Flexible Funding announced it was moving its headquarters to Fort Worth from San Francisco, though it said at the time that it planned to keep a presence in California.

“Joining the eCapital family is the right next step for Flexible Funding, and our team looks forward to continuing to provide excellent service to the staffing and transportation industries under the eCapital umbrella,” Paul DeLuca, managing member of Flexible Funding, said in comments today.

http://www2.staffingindustry.com/site/Editorial/Daily-News/eCapital-Corp.-acquires-staffing-funding-firm-in-bankruptcy-court-59741

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