Liberis, a London-based embedded business finance platform, has secured €30 million in an additional financing round from California-based Silicon Valley Bank, UK branch. Earlier this year, it raised additional financing of £140 million. As a result of this latest round, Liberis has raised €430 million in total.
As Liberis expands throughout Europe and the Nordics, particularly in Poland and Germany, this funding will help it continue to offer market-leading financing options to merchants. Further, the London fintech can now provide finance in three currencies, EUR, SEK, and DKK, thus reducing foreign exchange exposure.
Moreover, Liberis’ platform uses machine learning to assess risk profiles and fund options for customers, enabling higher volumes of origination and restoring SME financial control.
Conor Sheehy, Managing Director, Head of Warehouse Finance EMEA, at Silicon Valley Bank UK said: “We’re delighted to be working with Liberis as the team accelerates the business into new European territories and beyond. SME owners play a key role in driving the economy forward, and Liberis is supporting small businesses by giving access to reliable and sound capital to support their growth.”
Rob Straathof, CEO of Liberis, commented: “Thanks to the debt financing provided by Silicon Valley Bank UK, Liberis can continue its expansion into new territories across Europe with new and existing embedded finance partners, further supporting small businesses with flexible funding options.”
Financial inclusion for SMEs
Liberis was founded in 2007 by Charles Mindenhall and Paul Mildenstein, and is led by CEO, Rob Straathof. The company has helped over 10,000 small businesses globally access over £300 million in funding and supports 82,000 jobs. In addition to providing direct finance solutions to small businesses, the company also provides partners with a scalable finance platform to assist them in developing more valuable relationships with small businesses.
It offers flexible, affordable, and convenient funding options that can be extremely beneficial to small and medium sized business owners. Liberis is working to increase financial inclusion for SMEs around the world by providing much-needed funding options that they haven’t had before.