Marius Silvasan, CEO, eCapital, (pictured) discusses market position, recent acquisitions, industry trends, and the role of AI and technology in non-bank lending.

What was the driving force behind the LSQ acquisition, and how does it align with eCapital's broader strategic vision?

Marius Silvasan: A core part of our growth strategy is to become one of the largest non-bank lenders across the markets we currently serve, the U.S., Canada, and the U.K., with plans to expand into additional geographies over time. The acquisition of LSQ accelerated that journey by adding scale through their book of factored receivables and a strong, diversified client base.

Equally important, their technology stack complemented the infrastructure we’ve been building at eCapital. LSQ shares our belief in a tech-first approach to complex finance, and that alignment made for a smooth integration. We also gained an experienced executive team, several of whom played key roles during the transition. Dan Ambrico, who now serves as our president of Commercial Finance, remains an integral part of our leadership team.

What impressed me most was their early pay solution, an excellent example of embedded finance that allows us to connect directly with corporates, manage their payables, and inject liquidity into supply chains. It expands how we deliver value to SMBs and fits perfectly with our vision to simplify access to working capital through technology.

How have these acquisitions in recent years enhanced your service offerings to clients in the secured finance space?

Acquisitions are more than a path to growth—they’re how we build long-term advantage. Each one brings something unique: a specialized team, a new market, a technology solution, or deeper industry insight. Collectively, they allow us to move faster and smarter as a company.

We’ve used that momentum to reinvest in technology that simplifies access to capital and strengthens our service delivery. Today’s lending environment demands speed, intelligence, and adaptability—and we’re designing for all three. That’s how we stay ahead of client expectations and differentiate ourselves from traditional players.

Are there specific industries where you’re seeing increased lending activity?

We’re seeing a lot of activity across our core sectors, healthcare, manufacturing, and staffing in particular. These are large, capital-intensive industries where demand for financing remains strong, and where traditional lenders have scaled back. That creates real opportunity for non-bank providers like us.

Healthcare has been especially active. Our teams are paying close attention to what’s happening with ownership transitions, reimbursement delays, and continued consolidation across the sector. That level of understanding helps us respond quickly and structure solutions that reflect the complexity of the space.

It’s a similar story in manufacturing and staffing. Companies are dealing with rising input costs, supply chain shifts, and volatile labor conditions, factors that put pressure on cash flow and drive the need for flexible working capital.

With the current interest rate environment and economic uncertainty, how are your clients adapting, and what role is eCapital playing?

We are definitely in uncertain times - tariff policies, shifting global sourcing, and inflation are all contributing to ongoing market disruption. I don't think we've seen the full picture of the impacts of some of this uncertainty in the tariffs, because we're at the beginning of the cycle. Right now, there are a lot of questions: Will sellers source goods from different suppliers in different jurisdictions to have a lesser impact to tariffs? Will they switch and start buying goods in the US? Can US manufacturing capacity ramp up to meet the demands of local sellers and producers?

Many SMBs are evaluating new suppliers, cost structures, and whether they can absorb or pass on price increases. Our job is to monitor industry trends, client performance, and liquidity closely to be able to react to any positive or negative conditions.We look at inventory turns, AR, and margins to tailor solutions that help clients adapt. In times of economic change, agility and support during economic shifts matter more than ever.

What strategies will be critical for non-bank lenders to remain competitive in the next few years?

It comes down to three things: efficiency, speed, and diversification. SMBs want easy, fast access to capital, and meeting that expectation requires a strong foundation in technology and data. As a lender, we also need diversification across industries and client types to mitigate cyclical risk and build resiliency. The firms that can combine innovation with stability and sector expertise will be best positioned to lead through the next cycle.

How is eCapital leveraging fintech or technology to improve operations and client experience?

Technology is central to everything we do. We’ve invested heavily over the last five years to drive efficiency and speed, while keeping credit risk tightly managed. Our tech stack includes automation, real-time data, and AI-driven tools that enable us to deliver funding faster and more consistently, at scale. You simply can’t achieve industry-leading, game-changing performance through manual processes anymore.

With AI transforming so much, are there current or upcoming applications that excite you?

AI is a powerful next layer on top of the technology we’ve already built. For us, it’s not about replacing systems, it’s about augmenting them. By integrating AI into our platform, we’re able to deliver capital solutions faster, at greater scale, and with tighter control over credit risk.

We’ve already applied AI to streamline labor-intensive processes like invoice reconciliation, payment validation, pre-screening, and inventory tracking. These were once time-consuming and manual; now they’re faster, more accurate, and far more efficient. That’s where AI creates real value, by removing friction from the process and helping our teams work smarter.

The most exciting part is that we’re just getting started. As we continue to evolve our platform, AI will play an even greater role in optimizing decisioning, reducing turnaround time, and ultimately enhancing the borrower experience.

What’s next for eCapital in terms of growth, innovation, or positioning?

For us, the future of non-bank lending is about expansion, expanding access, expanding capabilities, and expanding into new markets. That starts with continued investment in technology. AI is adding a new dimension to how we originate, underwrite, and manage deals, helping us deliver faster decisions, sharpen risk controls, and better serve clients at scale.

As we grow, our focus remains on building smarter, more adaptive systems that allow us to meet the evolving needs of small and mid-sized businesses. We’re pushing past the limits of traditional sales channels and designing a platform that can support long-term growth, speed, and accuracy across every stage of the lending lifecycle.

At the same time, M&A will always be part of our expansion strategy. It gives us the opportunity to bring in exceptional teams, extend our reach, and integrate capabilities that strengthen our offering.

Our goal, to become the largest non-bank lender in the markets we serve, is powered by the strength of our leadership, the commitment of our employees, and the innovation running through every part of the business. That mindset is what’s carried us forward, and it’s what will keep pushing us ahead.