UK embeddable finance fintech Liberis has secured £140 million of financing from Barclays Bank and BCI Finance to help secure its global partner expansion and growth plans for the next two years.
This brings London-based Liberis’s total funds raised to £350 million, including more than £80 million of equity funding. In December 2021, Barclays led a round worth £34 million for the fintech.
The new funds will be used to further scale the Liberis platform, which delivers finance solutions to small businesses through its global partners.
Rob Straathof, chief executive officer of Liberis, commented: “This is a great opportunity for Liberis to continue helping SME growth across the globe, especially in such uncertain times that have been brought upon us by the COVID-19 pandemic. This funding will be crucial to supporting our partners in funding their SME customers to close the ever-expanding global funding gap.”
Liberis’s platform applies machine learning to understand a customer’s risk profile and maximum funding options available to them, enabling higher volumes of origination.
This has allowed the fintech to fund almost $1 billion to more than 21,000 SMEs across the UK, Europe and the US, across more than 50,000 transactions.
Liberis’s global partner network consists of ecommerce platforms such as Klarna and acquirers such as Barclaycard, Worldpay from FIS, Clover, and Global Payments. These partners integrate with Liberis to offer up to one million SMEs personalised revenue-based financing for up to £1 million.