Liberis, a London-based FinTech that provides finance for small businesses, has raised £57.5m in funding.
The company has entered new financing facilities with British Business Investments and Paragon Bank, as well as BCI Finance with whom Liberis extended terms on its mezzanine line.
In addition, it has received equity funding from the UK’s ‘leading digital venture builder’ Blenheim Chalcot, which has nearly 20 years’ experience of building technology-based companies. Liberis plans to use the new investment to expand its product offering both in the UK and internationally.
Founded in 2007, Liberis provides funding from £1,000 to £500,000 to small businesses based on their future credit and debit card sales. The funding is paid back via a pre-agreed percentage of the business’ digital transactions, which means it’s especially suited to seasonal businesses as repayments are made in line with their daily income.
Rob Straathof, CEO of Liberis, said: “Small businesses are the lifeblood of the UK economy yet many still struggle to get much needed financial support from traditional providers.
“At Liberis, we’re on a mission to fund small businesses to help them achieve their ambitions.
“We’re incredibly proud to support hardworking business owners such as your local bakery to invest in a new oven, help the neighbourhood pub expand with a beer garden, or enable incremental stock purchase for an online retailer. We’re here to help the British high street thrive and remain independent.”
To date Liberis claims to have helped over 7,000 small businesses, advanced £210m in funding and supported over 35,000 jobs in the UK. Liberis has also entered a new venture with Newable Business Finance, a designated Responsible Finance Provider, which provides business loans over two to five years to enable longer term capital for its customers.
Earlier this year, online loan marketplace Lendix received €200m in a debt financing round to help support over 600 SMEs. The financing came from The European Investment Bank Group, CNP Assurances, Eiffel IM, Groupama, Zencap AM, Matmut and Decaux Frères Investissements.
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