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SME lender Multifi secures £10m from Fasanara Capital

Image credit: Donatas Dabravolskas / Shutterstock

Multifi, a London-based fintech that provides credit services to SMEs, has raised £10m in loan capital.

The fresh funds will go towards Multifi’s credit facility offerings for small businesses. Multifi offers SME loans of up to £200,000.

“Business finance is overly complex, often leading to immediate rejection for enterprises needing funding. We aim to revolutionise this process by simplifying access to finance,” said Multifi CEO Rob Keown-Boyd.

“Our straightforward platform allows businesses to ascertain their borrowing capacity instantly, and with the initial £10m secured, we are eager to support the growth of SMEs across the UK. We are committed to taking the faff out of finance.”

The new funding came from the London-based asset manager Fasanara Capital, which this month also invested £11m into Untangled Finance.

“Fasanara is committed to supporting the UK SME ecosystem through funding partnerships with lenders like Multifi,” said Matt Kus, head of origination for developed markets at Fasanara.

“As a quantitatively focused asset manager, we are excited by Multifi’s prudent risk control framework which heavily leverages technology, enabling it to provide working capital finance to UK SMEs via flexible facilities that can be paid out quickly.”

In November of last year, Fasanara Capital secured £169m from a Canadian pension group for its fintech investment fund.