A further financing round of €30 million has been secured by the London-based embedded business finance platform Liberis.
The financing comes from California-based Silicon Valley Bank’s UK branch.
Embedded Business Finance business has already raised an extra £140 million in funding this year. Liberis has now raised a total of €430 million as a consequence of this most recent round.
This finance will assist Liberis in continuing to provide market-leading financing solutions to merchants as it grows throughout Europe and the Nordics, particularly in Poland and Germany. Additionally, the startup fintech may now offer financing in three currencies—EUR, SEK, and DKK—reducing its exposure to foreign exchange.
Additionally, Liberis’ platform makes use of machine learning to evaluate customer risk profiles and finance choices, enabling increased origination volumes and regaining SME financial control.
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Silicon Valley Bank UK’s Conor Sheehy, Managing Director and Head of Warehouse Finance for EMEA, said: “We’re thrilled to be collaborating with Liberis as the team expands the business into new European markets and beyond. SME owners are crucial to the growth of the economy, and Liberis helps small firms by providing access to dependable and sound finance for expansion.
“Thanks to the debt financing provided by Silicon Valley Bank UK, Liberis can continue its expansion into new countries across Europe with new and existing embedded finance partners, further aiding small businesses with flexible funding choices,” said Rob Straathof, CEO of Liberis.
Charles Mindenhall and Paul Mildenstein founded Liberis in 2007 and support 82,000 employment and had assisted more than 10,000 small businesses worldwide in obtaining more than £300 million in the capital.
The company offers partners a scalable finance platform in addition to direct financial solutions for small businesses to help them forge stronger connections with small businesses.
It provides small and medium-sized business owners with a variety of simple, flexible, and cheap funding choices. Liberis aims to enhance financial inclusion for SMEs globally by giving them access to previously unavailable lending solutions.
Image Credit: Liberis