CAN Capital, formerly Capital Access Network, constitutes the largest, non-bank alternative capital provider to small businesses in the United States, and is parent company of AdvanceMe and NewLogic Business Loans. It is based in New York, New York, United States, and has offices in Atlanta, Georgia, Salt Lake City, Utah, and Costa Rica. CAN Capital’s Daily Remittance Platform allows lenders to small and medium-size businesses to access the daily cash flows of borrowers, and collect daily remittances from them. The platform gives lenders a window into their customers daily business, and relies on payment processors to split the settlement of card transactions between the small business and its bank. In February 2012, Accel Partners invested $30 million in CAN Capital to help the company aggressively target online businesses as well as expand its business overseas through working with partner organizations.
Competitors include Wonga.com, Kabbage, OnDeck, as well as giants like Amazon.com that are looking to expand into lending.
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