Embedded business finance platform Liberis has raised £140m in financing from Barclays Bank and BCI Finance as it looks toward expansion.
Liberis is also backed by investors such as FTV Capital and UK-based venture builder Blenheim Chalcot. Following this round, Liberis has raised a total of £350m since inception.
Liberis’ platform applies machine learning to understand a customer’s risk profile and maximum funding options available to them, enabling higher volumes of origination. This has allowed them to fund almost $1bn to over 21,000 SMEs across the UK, Europe, and the US, in over 50,000 transactions.
The company will use the new funds to scale its platform, offering fair and increasingly flexible finance solutions to more small businesses through its growing global partner base.
Liberis CEO Rob Straathof said, “This is a great opportunity for Liberis to continue helping SME growth across the globe, especially in such uncertain times that have been brought upon us by the COVID-19 pandemic. This funding will be crucial to supporting our partners in funding their SME customers to close the ever-expanding global funding gap.”
BCI Finance managing director Sam Kemp added, “We have been partnered with Liberis since 2015 and are delighted to again be evolving our support for the business as it scales. Alternative finance providers such as Liberis, focused on reducing the barriers to accessing working capital, play a vital role in providing SMEs with the funding that they need to operate and grow.
“This is particularly important during periods of economic uncertainty, and we’re excited to be continuing to work with the Liberis team as they further extend their global reach.”
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