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Liberis to enhance business finance platform with new £70 million funding

By Megha Bhattacharya

December 22, 2020


London-based business finance platform, Liberis today secured £70 million in financing from British Business Investments, Paragon Bank, BCI Europe, as well as financing and venture debt from new partner Silicon Valley Bank (SVB). This brings the total funds raised to £200 million total.

Rob Straathof, CEO of Liberis, commented, “Our significant growth in the past two years has highlighted the need in the market for SME support, especially during uncertain times. As an SME ourselves, we understand the plight and have survived an economic downturn. With uncertainty in the market, funding can be hard to access more risk averse institutions. We are thrilled to have extra resources to help our partners support SMEs’ survival through COVID and beyond.”

According to Liberis, the new funds will be used to boost the company’s growth, launch new products and markets as well as offer additional customer financing solutions.

Founded in 2007, Liberis offers partners with financing solutions for their small business customers. It has provided over half a billion pounds (£500m) in financing to 16,000 SMEs across Europe, USA and UK.

Judith Hartley, CEO, British Business Investments: “At British Business Investments, our mission is to increase the overall supply and diversity of finance for smaller businesses across the UK. By supporting innovative lenders such as Liberis, we can continue to help smaller businesses access the finance they need to achieve their growth ambitions.”

Earlier this year, Liberis announced that it has secured £32 million in a funding round led by FTV Capital. The new funding is expected to assist the FinTech in its expansion efforts across the US and Europe as well as strengthen its staff by 30 percent. The investment has raised the Blenheim Chalcot-backed Liberis’ total debt and equity funding to around £150 million.

Jamie Pickering, Director, Structured Lending, Paragon Bank: “We are proud to support and partner with Liberis to support its technology and financing solutions that present real-world value for SMEs and marketplaces. The ability to rapidly access funds is key for SME survival in uncertain times and effective delivery of embedded finance is a much-needed piece of the puzzle.”

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