Teamshares Increases Acquisition Capacity By 50%, Funding Growth To 150+ Employee-Owned Small Businesses

New $75M debt facility follows inclusion in GGV Capital's '2024 Fintech Innovation 50'

Growth stage company successfully launched four new financial products in 2023

NEW YORK, Feb. 1, 2024 /PRNewswire/ -- Teamshares Inc., the market leader for small business employee ownership, has announced a cumulative $225 million in debt financing, including a just-closed $75 million debt facility with Sound Point Capital and a previously unreported $150 million debt facility with i80 Group. The new financing will enable Teamshares to expand from 89 to 150+ businesses, while continuing to build financial and employee ownership products to support its growing network of employee-owned companies and the people who power them.

"Adding Sound Point Capital to Teamshares' lender base significantly accelerates our progress in scaling small business employee ownership," said Michael Sutherland Brown, Cofounder and CEO of Teamshares. "Building strong relationships with major credit institutions as we move closer to a public offering is a critical step in scaling our mission to reduce the wealth gap and preserve American small businesses for generations to come. i80 and Sound Point Capital have been great partners in our mission."

The $75 million Sound Point Capital facility follows successful back-to-back growth equity rounds for Teamshares, including a $124 million Series D led by QED Investors, alongside Inspired Capital, Khosla Ventures, Slow Ventures, Spark Capital, and Union Square Ventures. Since completing its Series D, Teamshares has continued to expand its employee ownership model to small businesses across the U.S., and launched four network-exclusive products, including a neobank, charge cards, business insurance, and health insurance.

"Teamshares is a highly differentiated business, not only as the sole scaled player in small business employee ownership but also through its unique business model, proprietary software, and strong financial performance compared to adjacent acquisition-based models. We're proud to play a part in expanding employee ownership with Teamshares in the small business landscape," said Philip Bartow, Managing Director, Sound Point Capital.

Founded in 2019, Teamshares is an employee ownership platform for small business. The company buys traditional small businesses from retiring owners and transitions them to 80% employee ownership within 20 years, supporting each business?and its shareholders?with new leadership and ongoing access to financial education, equity management software, and other specialized products.

About Teamshares
Teamshares is an employee ownership platform for small business, driven by proprietary software, education, and financial products. Its mission is to make employee ownership the future of small business?creating $10 billion in new stock wealth for wage workers along the way. Teamshares buys traditional small businesses from retiring owners and transitions them to 80% employee ownership within 20 years, providing new leadership and ongoing access to financial education, equity management software, and other specialized products. The company has acquired 89 small businesses to date, representing more than 2,500 employee owners. Founded in 2019, Teamshares has 140 employees across the U.S. and Canada. Learn more at teamshares.com.

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SOURCE Teamshares Inc