Bloom, a company that specialises in providing capital to growth firms that operate predominantly online, has raised ?300m in Series A funding.
The round was led by Credo Capital and Fortress. According to Bloom, this round makes it the highest-funded revenue-based lending business in Europe.
Bloom claims it is the next-generation of revenue-based lender, differentiating itself through its pricing model and range of product features that enable brands to only pay for what they use.
The Bloom product is based on a flexible pricing and deployment model that combines the best features of a revolving credit product, charging customers for only what they use with the predictability and transparency of cost that comes with fixed fee revenue-based lending.
Bloom claims the funding raised will drive its ambition to become Europe leading provider of capital to digital entrepreneurs.
Bloom CEO James Hickson said, ?We are not another revenue-based lender. We estimate that eCommerce merchants have incurred ?125-?200 million in excess fees based on the current pricing status quo. That money that could have been used for more stock, increased ad spend, or customer incentives.? We saw an opportunity to innovate rather than simply join the herd. So we did.p>
Jetty, a financial service company on a mission to make renting a home more affordable, recently?received an investment from PayPal Ventures and Experian Ventures.
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