Liberis, a UK-based provider of innovative business cash advance solutions, secured £57.5m in combined funding.
Backers included British Business Investments, Paragon Bank, BCI Finance, and Blenheim Chalcot.
The new facility and equity investment will accelerate growth and expansion of its product offering both in the UK and internationally.
Led by Rob Straathof, CEO, Liberis provides funding from £1,000 to £500,000 to small businesses based on their future credit and debit card sales. The funding is paid back via a pre-agreed percentage of the business’ digital transactions.
To date, the company has helped over 7,000 small businesses, advanced £210m in funding and supported over 35,000 jobs in the UK. Liberis has also entered a new venture with Newable Business Finance, a designated Responsible Finance Provider, which provides business loans over 2 to 5 years to enable longer term capital for its customers.