Bloom Group S.A., a London, UK-based revenue-based lending business, secured £300m in funding.
The round was led by Credo Capital Partners and funds managed by Fortress Investment Group LLC.
The company intends to use the funds to expand its reach across Europe.
Led by the ex-head of Morgan Stanley’s Fintech Enterprise and experienced Fintech CEO, James Hickson, Bloom specialises in providing capital to growth businesses that operate predominantly online.The revenue-based lender differentiates itself from similar models through its pricing model and range of product features that enable brands to only pay for what they use. The product is based on a flexible pricing and deployment model that combines the 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. The capital from Bloom is not designed for stock, marketing or any other specific purpose as the company believes business owners who have growing companies should be free to use capital in the best way that suits them.
FinSMEs
26/05/2022