Liberis, the fintech on a mission to reshape small business finance for good, has successfully closed a £32 million funding round in its largest equity capital fundraise to date.
This investment represents the company’s first institutional equity fundraise and was led by FTV Capital – a growth equity firm with a successful track record of supporting high-growth financial services and technology companies.
Liberis is backed by Blenheim Chalcot, the UK’s leading digital venture builder, who welcome FTV as co-investors in Liberis. This investment brings Liberis’ total debt and equity funding to over £150 million.
Since its inception, Liberis has provided over 15,000 small businesses with more than £450 million in funding of which the majority through its innovative Funding-as-a-Service platform with integrated partners.
Liberis’ strategic partners, which include amongst others four of the world’s largest merchant acquirers, currently white-label its finance platform to offer funding to their own small business customers.
Rob Straathof, CEO, Liberis, commented: ‘Small businesses are the lifeblood of the global economy, yet they continue to be turned away by banks and traditional lenders or faced with unhelpful repayment terms and complex processes.
“We are delighted with this investment from FTV Capital as it means we can continue to onboard new partners, expand our product range and grow our team in order to serve the 50 million small businesses across the US, Europe and the UK with much needed funding.”
Jerome Hershey, Senior Investment Advisor at FTV Capital, said: ‘FTV believes the convergence of payment processing and small business funding presents a massive investment opportunity. Liberis’ differentiated distribution model offers a compelling value proposition for both its strategic partners and small business customers.
“We are thrilled to be working with the company’s strong management team, and existing investors, to help them execute their vision.’
Manoj Badale, Founder at Blenheim Chalcot added: ‘Rob and the Liberis team have built a great business with some of the world’s largest payment providers as strategic partners, and we are delighted to welcome FTV as co-investors. We look forward to working closely with them as we continue to expand its partnerships base and grow Liberis globally.’