iPLATO secures an unsecured loan from Caple to fund technology and marketing expansion.
Caple has provided an unsecured eight-year loan to support the healthtech company's domestic and international growth.
iPLATO is a healthcare technology business that connects patients with medical practices through its software platform and mobile application. The company operates in the digital health sector, facilitating millions of patient interactions across the UK.
Alternative SME credit specialist Caple has provided iPLATO with a multimillion pound unsecured loan to support the company's expansion. The financing will be directed towards technology development and marketing initiatives as the business targets international markets and user growth. The funding allows the healthcare technology provider to pursue its growth strategy without resorting to equity issuance.
From the founder
"Our aim is to transform healthcare by making it easier for patients to better organise their and their family’s healthcare. To do so, we need funding that reflects our ambitions. While equity funding was a possible option, it was expensive, failed to match our vision, and we did not want to dilute our ownership."
Martin Rowden
CFO at iPLATO
Investor perspective
"Many successful businesses are growing by developing intangible assets such as intellectual property or services. However, while banks can lend against the tangible assets in a business, they can only do so up to the value of those physical assets available as collateral. After that, they cannot help."
Sean Brophy
Country Manager, UK, Caple
Use of funds
- 01Continue product development
- 02Invest in sales and marketing
- 03Expand into international markets