The debt financing package is provided by a syndicate including HSBC UK, ING, and Standard Chartered.
"We are very pleased to welcome this new group of lenders to Netomnia and are thrilled they have chosen to support the continued acceleration of our business. The enthusiasm from these institutions to support our business is a testament to our successes at Netomnia and YouFibre, and our unique approach to building our full fibre network and providing best-in-class Internet speeds and services to customers across the UK."
The London-based embedded finance platform has raised debt funding to support international expansion and multi-currency capabilities.
"We’re delighted to be working with Liberis as the team accelerates the business into new European territories and beyond. SME owners play a key role in driving the economy forward, and Liberis is supporting small businesses by giving access to reliable and sound capital to support their growth."
— Conor Sheehy, Managing Director, Head of Warehouse Finance EMEA
The financing follows previous backing from Pollen Street and aims to support the company fleet expansion.
"We’re grateful for the support of Pollen Street and CDPQ – it will turbocharge our UK growth plans and consolidate our position as the leading electric car subscription service. This is a pivotal moment for the adoption of electric cars, and at Onto, we want to make them more accessible and affordable to people who want to make environmentally-conscious choices. The opportunity to provide an alternative to car ownership has never been more desirable – our subscribers benefit from the convenience, flexibility, and choice of a monthly subscription model."
Silicon Valley Bank UK led the syndication with a hold level of £100m to support the company working capital needs.
"Our mission is to create money without borders – instant, convenient, transparent and eventually free. The new facility led by Silicon Valley Bank UK will offer us flexible and efficient access to working capital. This means we can continue bringing our service to as many as possible and we can keep investing in making our payments faster, cheaper and more efficient for our millions of customers around the world."
