ImpactAlpha, December 23 — Like small businesses around the world, small businesses in the U.K. are struggling to survive the impact of COVID.
London-based Liberis has raised debt funding of £70 million ($94 million) “to fuel company growth, launch new products and markets, and provide additional customer financing solutions.”
British Business Investments, Paragon Bank, BCI Europe and Silicon Valley Bank provided the financing. The company has raised £200 million in equity and debt investments to date.
Through Liberis’ digital platform, small businesses can secure loans ranging from £1,000 to £300,000. Repayments are based on how much borrowers earn through credit and debit card sales.
Liberis has originated over £500 million for 16,000 small and medium-sized enterprises across Europe, the U.S. and the U.K. since 2007.