Wise, an international payments company, has secured £300m from a syndicated debt facility.
Silicon Valley Bank UK acted as lead arranger of the syndication, with six other banks participating in the new £300m capital facility to support Wise’s future growth plans.
The syndicated facility, which was led by Silicon Valley Bank UK’s Corporate Finance team, has a hold level of £100m.
Wise chief financial officer Matt Briers said, “Our mission is to create money without borders – instant, convenient, transparent and eventually free. The new facility led by Silicon Valley Bank UK will offer us flexible and efficient access to working capital.
“This means we can continue bringing our service to as many as possible and we can keep investing in making our payments faster, cheaper and more efficient for our millions of customers around the world.”
Silicon Valley Bank UK head of corporate finance Rosh Wijayarathna added, “Supporting innovation, innovators and their investors is in our DNA and SVB’s Corporate Finance team is thrilled to arrange this facility for Wise. We are now seeing the UK create global market leaders and the UK ecosystem maturing as a world-leading innovation hub.”
Kudos, a smart wallet that maximises consumer rewards and benefits while shopping online, recently raised $7m in seed funding.
The round was led by Patron, and included investments from QED Investors, SciFi VC, SV Angel, Precursor Ventures, Newtype Ventures, Chingona Ventures, and over forty angel investors.
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