Automotive finance provider secures £5m from existing backer to support growth
The additional funding brings total capital raised from the investor to £10m following rapid expansion.
£5.0M
An automotive finance provider offering affordable car loans, which has experienced rapid expansion over recent years.
An unnamed automotive finance provider has secured an additional £5m in funding from its original backer, bringing total capital raised from the investor to £10m. The fresh injection follows a period of rapid expansion that saw the business grow 400% over the last two years.
The original backer previously provided £5m in 2015, alongside acquiring a minority stake and taking a board seat. Advisors note that subsequent funding rounds could reach up to £50m as the company scales its operations further.
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- 01Scale operations
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About the company
£5.0MRaised