Mitesco has secured a new financial partner to fuel the build-out of its Centcore data center business.
The OTC-listed company this week announced a partnership with financial services firm United Commercial Partners.
Under the partnership, United will support project-level financing for Centcore’s modular small-format data center initiative.
“Partnering with Mitesco and Centcore creates a compelling opportunity to scale nationally across digital infrastructure projects,” said Chris Rappucci of United Commercial Partners. “Our team brings deep experience in commercial and specialty financing, well beyond traditional residential lending. We look forward to supporting Centcore’s expansion with flexible capital solutions designed for growth-oriented data center development.”
Mitesco said Centcore’s small-format data centers are purpose-built to serve enterprise, government, and emerging AI applications, emphasizing rapid deployment, scalable capacity, and proximity to end users.
The financing partnership is expected to streamline Centcore’s development timelines while improving overall project economics.
“This partnership moves us from strategy to execution,” said Mack Leath, CEO of Mitesco. “We are actively evaluating three powered sites with existing HVAC and infrastructure, which positions us to convert facilities into operational Centcore data centers faster and at significantly lower cost than ground-up construction.”
He continued: “By combining lower-cost buildouts with competitive financing, we expect Centcore to reach positive cash flow materially sooner than traditional data center models. This relationship gives us the speed, flexibility, and capital structure needed to scale.”
Mitesco is a Florida-based growth-oriented technology company founded in 2009.
Launched in 2024, Centcore is Mitesco’s dedicated data center business, providing colocation, cloud, and other services. The firm operates a 25,000 sq ft facility in the Melbourne area of Florida. Some listings suggest it could be operating out of Satcom Direct’s site at 8635 Holiday Springs Road.
Last year, Mitesco said Centcore was evaluating multiple locations across Tennessee for potential data center expansion. The company was reportedly targeting both existing facilities and sites for potential build-out, including sites near Nashville and more rural locations.
The company last year said it was planning to develop a network of small, purpose-built locations. These sites are reportedly expected to be in the 5,000 to 10,000 square foot (465 – 929 sqm) area and would be housed in existing structures that already have suitable power, water, and HVAC on-site.
Mitesco launched Vero Technology Ventures, a new venture focused on investing in early to mid-stage software and systems, including cloud computing, in 2024.