Liberis, a small business lending platform, has collected £32m in funding as it looks to boost growth in the US and Europe.
Growth equity firm FTV Capital led the round, which marks Liberis’ first institutional equity fundraise.
The FinTech company has provided 15,000 small businesses with a combined total of £450m in loans through its platform.
Over the past 18 months, the company has entered five new territories including the UK, US, Sweden, Czech Republic, Slovak and Finland. With the new capital, Liberis is looking to grow its presence in the US and enter two new European countries – which countries it will move into is unclear.
The company is also looking to increase its team size by 30% over the coming year.
Liberis CEO Rob Straathof said, “Small businesses are the lifeblood of the global economy, yet they continue to be turned away by banks and traditional lenders or faced with unhelpful repayment terms and complex processes.
“We are delighted with this investment from FTV Capital as it means we can continue to onboard new partners, expand our product range and grow our team in order to serve the 50 million small businesses across the US, Europe and the UK with much needed funding.
“2020 is set to be an exciting year for Liberis and this financial investment will help to accelerate our plans so we can support thousands more small businesses around the world with fast, flexible and fair funding.”
Liberis is an online lending platform which provides small businesses with access to loans between £2,500 and £300,000 for quick cash advances to help support cash flows. Businesses can also access a funding line which supports longer term needs, with loans ranging from £50,000 and £400,000.
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