365 Business Finance has raised £55m in debt and equity funding, as it aims to quadruple its lending to SMEs over the next two years.
The round saw Kendal Capital invest in the business, while the debt facility was concluded with Pollen Street Capital.
The London-based provider of revenue-based finance said it has already seen significant growth in demand, with demand more than doubling from pre-Covid levels.
365 Business Finance said its proprietary technology platform and unique automatic collections process have enabled it to buck the trend for SME lenders in the UK, maintaining market-leading credit performance and reaching “record levels of origination”.
Andrew Raphaely, 365 Business Finance managing director, said, “With fully automated repayments, a flexible repayments solution and service unmatched in our sector, we’ve positioned ourselves as the go-to alternative finance provider.
“This raise will help us meet our goal of quadrupling our lending over the next two years, and to become the leading revenue-based finance provider in the UK.”
Michael Katramados, partner at Pollen Street Capital, said, “We are delighted to build on our strong relationship with 365 Business Finance and continue as their main funding partner as they embark on the next chapter of their growth. This facility aligns with our commitment to generating positive impact, with 365 Business Finance supporting SMEs across the UK with flexible finance.”
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