Swoop raises £5.4m in Series A funding to fuel international growth.
Velocity and Arab Bank Ventures backed the Series A round to support the company's global expansion.
Swoop operates a financial platform connecting businesses and advisers with various funding sources including loans, grants and equity. The company automates the discovery of financial products and savings for corporate clients.
Swoop has secured £5.4m in a Series A funding round backed by investors such as Velocity, Arab Bank Ventures, IAG and WeHo Ventures. The capital will be deployed to drive international expansion, particularly targeting North America, and to support advisers seeking finance options for clients. This follows a period of heightened demand for small business financing, with the company forecasting strong revenue growth for the year.
The business currently operates in the UK, Ireland, Canada and Australia, and plans to grow its headcount significantly over the summer. Previous backers including Enterprise Ireland and various private investors also maintain ties to the firm following earlier investments.
From the founder
"Accessing finance for their clients is one of the key issues facing advisors. Finance is data-driven and borderless. With the influx of new lenders into the market, Swoop is able to connect SMEs and advisors with the funding they need wherever they are in the world. To date we’ve helped our businesses secure £500m to grow their businesses."
Andrea Reynolds
CEO and Co-Founder at Swoop
Investor perspective
"Andrea and the team at Swoop have executed strongly on their potential since we first invested in the company in 2018. We are excited to see them take their vision to new markets."
Rajeev Saxena
CEO, Velocity
Use of funds
- 01Expand into international markets
