Muse announced raising $20m in debt facility to support small businesses

By Joy Dumasia

Muse Finance, a bespoke finance provider for small, medium and growing businesses, announces that it has closed a $20m debt facility to support the growth of small businesses.

The additional funds mean that Muse now has access to over $96,000,000 USD (or £73,890,000 GBP), having previously raised £64m for the UK and European corporates from RiverRock and Prime 5 Finance Limited. The new debt facility comes ahead of Muse’s upcoming Series A round, which is planned for early 2023. 

The funding will further support its customers in the UK, providing them with best-in-class solutions for working capital. This includes ensuring that more companies have access to their new business finance solution, which combines supply finance and invoice finance to help businesses pay overseas suppliers while unlocking cash tied up in their pending business invoices.

The new facility also paves the way for Muse to provide innovative invoice and supply financing solutions to companies based in the USA. Muse already has nearly five thousand customers in the UK and has supplied finance for over 36,000 invoices.  

Ann Marie Juliano, Founder and CEO of Muse, comments: “We’re thrilled to announce that we’ve extended our debt facility at Muse, raising a further $20 million to support UK small business. Right now, there’s unprecedented pressure on businesses across the globe, particularly when it comes to cash flow management. We’re specifically built to help businesses that need fast access to funds to continue to grow – and with this facility, we’ll be able to do even more to ensure small, ambitious businesses have the access to working capital that they need.”  

Recently, IBS Intelligence reported that Muse Finance, a bespoke SME finance provider, announced that it had finalised the appointment of its advisory board, which will support Muse with strategic advice for its growth. The advisory board members bring over 150 years of collective expertise in commercial finance, financial services, law and operations working at premier global institutions.