Online funding platform Fleximize has received £16.3m in debt funding from Hadrian’s Wall Investments Limited.
Fleximize works to grow British SMEs by offering tailored financial solutions to its customers and employing relationship managers to provide clients with regular support.
The firm’s ‘revenue advance’ loan gives customers flexible funding, which they can pay back at a pace in accordance with their businesses’ development.
The Suffolk-based FinTech startup said the Hadrian’s Wall investment will help it to achieve its goal of lending small- and medium-sized enterprises (SMEs) £100m by 2019.
Since 2014, the company has lent £40m to businesses such as the Norfolk-based Shelly’s Pie and Mash shop and bespoke bridesmaid dress retailer Nabbd in Wimbledon.
Peter Tuvey, co-founder and managing partner of Fleximize, said: “It has been a pleasure working with Hadrian’s Wall Capital Limited. We’ve valued their proactive and fast-paced approach to supporting us.
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“This additional access to funding will fuel our capability to support businesses requiring capital in an unpredictable economic climate, while allowing us to expand our excellent team.”
The firm claims its SME lending rose by 132% between 2015 and 2016, an increase it seeks to double this year.
“We’ve been impressed by Fleximize’s growth over the past three years,” said Marc Bajer, chief executive at Hadrian’s Wall Capital Ltd. “We look forward to working closely with Peter and the team, and supporting the company on the next stage of its exciting journey.”