Liberis raises GBP 70 mln for SME financing

Tuesday 22 December 2020 15:11 CET | News

Global embedded business finance platform Liberis has secured GBP 70 million in financing from British Business Investments, Paragon Bank, BCI Europe, and Silicon Valley Bank (SVB)

This brings Liberis’ total funds raised to GBP 200 million total, including over GBP 50 million in equity funding. The new funds will be used to fuel company growth, launch new products and markets, and provide additional customer financing solutions. Liberis has provided over half a billion pounds (GBP 500 million) in financing to 16,000 SMEs across Europe, USA, and UK, including GBP 250 million since 2018 alone. Founded in 2007, Liberis provides partners with financing solutions for their small business customers.  

In a recent survey of 200 Liberis customers, half were forced to shut down and 37% were most concerned with the loss of revenue and customers, with their biggest challenge being cash flow. 36% said it was harder to get approved for funding from traditional lenders such as banks. In May 2020, Liberis launched a new CBILS loan product, providing financial support to SMEs across the UK that are losing revenue and seeing their cashflow disrupted because of the COVID-19 outbreak, according to the official press release. 

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Keywords: Liberis, financing , SME, embedded business finance, platform, UK, COVID-19, small business, cash flow, bank, lender, CBILS
Categories: Banking & Fintech
Countries: United Kingdom
This article is part of category

Banking & Fintech