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Manchester-based FinTech firm PayBreak raises £24.5m

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Manchester-based FinTech firm PayBreak has raised £24.5m in equity funding.

Existing shareholders participated in the round alongside new investors.

The company says it will use the money to accelerate its growth and development.

“This fundraising shows high confidence in our performance to date and expectations for the future”, stated Julia Throop, the managing director.

Trading since 2012, PayBreak is a consumer lender which enables merchants to offer a range of finance products through its afforditNOW products suite.

ChairmanJoost Schuijff added: “Consumer finance is a high growth market and our innovative finance products, resilient, highly scalable technology and operational expertise allow us to make considerable inroads into this market whilst upholding ethical, safe lending for our consumers.”

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