D a v i D g e n s
Founder and ceo,
Merchant adVance
caPital ltd.
age: 27
the story: Years of booking
shows and minding the mon-
eybox for his high school band
prepared David Gens well for a
career in finance, he says. On
the advice of a family friend,
Gens enrolled in
UBC Sauder's
portfolio management program
(a pipeline for future bankers),
and after working at local private
equity firm
CAI Capital Manage-
ment post-graduation, Gens
decided to strike out on his own
with Merchant Advance Capital
in 2010. The firm offers a niche
credit product uncommon in
Canada: Gens lends cash to small
businesses in return for a percent-
age of what they book in debit or
credit sales. "I liked the idea of a
business model that was success-
ful in the U.S. but hadn't caught
on in Canada," says Gens. Five
years later and Merchant Advance
is still one of the few lenders of
its kind in Western Canada. "It's
rewarding to build your own
thing," says Gens, who counts his
father, brother and uncle—found-
ers of their own IT business—as
role models.
Markers oF success:
Merchant Advance has raised
more than $5.6 million in equity
capital and has been profitable
since inception, generating
returns in excess of 10 per cent
annually. Since 2010, the 15-per-
son firm has provided more than
$24.7 million to small businesses
in Western Canada.
—J.P.
52 BCBusiness april 2015
3
0
u
3
0
who insPires
Me to succeeD
"Warren Buffett. I've
always been inspired
by his intellectual
honesty, and of
course, his investing
track record"
