We’re excited to announce that we’ve raised £46 million from world-class investors to help us grow. The round comes just ahead of our fifth birthday – we were incorporated on 5 October 2011 – and will help us to support tens of thousands of businesses over the coming years.
The total investment includes a £21 million Series C equity round, led by Prime Ventures, who we’re also happy to welcome to our board. All our existing investors also participated in the Series C – welcome back! Finally, we raised a further £25m secured debt facility via a syndicate led by Shawbrook Bank. This is a huge vote of confidence from one of the UK’s leading challenger banks and we’re very fortunate to have investors with deep experience in both finance and tech.
It’s been an incredible journey so far. We’ve built one of the world’s most advanced tech platforms for financing SMEs and this has already allowed us to support over 7,000 small businesses. There are loads of success stories, including Brew Lab and Bagel Boy. Our customers have also left us almost 1,000 amazing reviews on Trustpilot so far. Our team has doubled since we last raised funding and we operate in markets covering 50% of the EU GDP.
However, we know we’re still at the beginning. Our goal is to finance at least a million customers over the next decade and this investment will give us the firepower we need to hit that target. It’s also going to allow us to continue to invest in offering a better experience to our existing customers. Look out for some exciting projects that we’ll be announcing soon!
Finally, to all the customers who have been with us over the past few years, we’d like to say a big thank you. We couldn’t have done it without you.