Liberis, a London, UK-based global embedded business finance platform, raised £70m in financing.
Backers included British Business Investments, Paragon Bank, BCI Europe, as well as financing and venture debt from new partner Silicon Valley Bank (SVB). This brings Liberis’ total funds raised to £200m total, including over £50m in equity funding.
The new funds will be used to accelerate company growth, launch new products and markets, and provide additional customer financing solutions.
Founded in 2007 and led by Rob Straathof, CEO, Liberis provides partners with financing solutions for their small business customers. The company’s global partner network consists of marketplaces, software providers and acquirers, such as Worldpay from FIS and Global Payments. These partners integrate with Liberis to offer up to 1m SMEs personalised pre-approved revenue-based financing for up to £300,000. Payments are linked to a company’s transactions, enabling them to pay for the funds more comfortably, in line with income.
The company has provided over half a billion pounds (£500m) in financing to 16,000 SMEs across Europe, USA and UK, including £250m in the past two years alone.