Liberis, a specialist global embedded business finance platform, has landed £70m in financing from long-term partners British Business Investments, Paragon Bank, BCI Europe, as well as financing and venture debt from new partner Silicon Valley Bank (SVB).
The news continues the growth for the firm, with it bringing its total funds raised to £200m total, including over £50m in equity funding.
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 from more risk averse institutions. We are thrilled to have extra resources to help our partners support SMEs’ survival through COVID and beyond.”
The new funds will be used to fuel company growth, launch new products and markets, and provide additional customer financing solutions.
Folake Shasanya, Head of EMEA Warehouse Financing, SVB added: “We are pleased to become a new funding partner to Liberis and have been impressed with their ability to embed financing solutions across technology platforms, payments providers and more.
“At SVB, supporting innovation is in our DNA and we are delighted to provide this global growth opportunity to Liberis through our Warehouse and Venture Debt products.”
Judith Hartley, CEO, British Business Investments also stated: “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.”