Outfund, a revenue-based finance provider, has pulled in £115m from a Series A funding round of equity capital and debt.
The round included £100m in debt financing as well as a £15m capital injection from Force Over Mass, 1818 Venture Capital, Tribe Capital and PostFinance.
Following the new funding, Outfund is planning to invest over £500m of lending to over 5,000 firms over the next year, and will boost its lending limit to £10m per business.
Through its bigger reach and new funding, Outfund is set to loan over £500m in 2022 and is expected to fund more than 5,000 companies worldwide. In addition, Outfund also plans to double its team from 70 to 150 people by the end of the year.
Outfund CEO Daniel Lipinski said, “What sets us apart from the market is our technology and our ability to provide in-product finance solutions to almost any partner, ensuring not only rapid growth but also the ability for our partners to provide a range of value-add financial products to their customer base.”
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