Axis Auto unit gets $55 million funding facility through Mitsubishi

By Devika Patel

Knoxville, Tenn., July 6 – Axis Auto Finance Inc. subsidiary Pivotal Capital Corp. secured $55 million through a funding facility with Mitsubishi HC Capital Canada, Inc., according to a press release.

The funding facility includes an up to $50 million purchase facility and a warehouse facility, with a limit of $5 million.

Proceeds will be used to finance and purchase the payment receivables generated from commercial finance contracts.

Axis Auto is a technology-driven alternative auto finance company based in Mississauga, Ont.

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