A niche finance platform has secured a £2m debt and equity package to scale its lending operations.
The capital package combines a £2m debt facility with a six-figure equity injection to support portfolio growth.
An operator of a lending platform that allows small retailers and professionals to offer interest-free instalment plans to customers.
An unnamed niche finance platform has secured a £2m debt facility alongside an undisclosed six-figure equity sum to scale its operations. The business, which previously relied on bootstrap funding from its founders, sought external capital to support growing demand for its retailer lending solutions.
The debt facility is structured to expand alongside the company loan portfolio, while the equity capital will fund the infrastructure needed to manage the growth. Furthermore, the backer has signalled potential interest in acquiring the business upon reaching specific milestones.
Use of funds
- 01Build out infrastructure
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About the company
FinTech Lending Platform
A lending platform enables small retailers to offer interest-free customer instalment plans.