Liberis to support thousands more small businesses with the finance they need to thrive
London – 22nd January, 2020 – Liberis Group, the fintech on a mission to reshape small business finance for good, has successfully closed a £32 million funding round in its largest equity capital fundraise to date. The investment was led by FTV Capital – a specialist growth equity firm with a track record of supporting financial services and technology companies – with Liberis’ existing owners, Blenheim Chalcot, investing alongside FTV. This investment brings Liberis’ total debt and equity funding to over £150 million.
Since its inception, Liberis has provided over 15,000 small businesses with more than £400 million in finance. Liberis’ partners, which include four of the world’s largest merchant acquirers, currently white-label it’s finance platform to offer funding to their own small business customers.
The last 18 months have seen rapid global growth for Liberis with expansion into six countries including the UK, US, Sweden, Czech Republic, Slovakia and Finland. This new investment will support the business as it further expands its footprint in the United States and in two additional countries in Europe, as well as attracting the best talent with a 30% increase in headcount planned for the coming year. The investment will also enable the company to scale at pace through its unique partnerships model to support even more small businesses.
Rob Straathof, CEO, Liberis, commented: ‘Small businesses are the lifeblood of the global economy, yet they continue to be turned away by banks and traditional lenders or faced with unhelpful repayment terms and complex processes. We are delighted with this investment from FTV Capital as it means we can continue to onboard new partners, expand our product range and grow our team. 2020 is set to be an exciting year for Liberis and this financial investment will help to accelerate our plans so we can support millions of small businesses around the world with fast, flexible and fair funding.’
Jerome Hershey, Senior Investment Advisor, FTV Capital said: ‘The convergence of payment processing and SMB lending has been a theme FTV has been monitoring for the past few years. Liberis’ differentiated distribution model offers a compelling value proposition for both its strategic partners and small business customers. The company is well positioned to continue its significant growth trajectory as it expands internationally across Europe and in the United States. We are thrilled to be working with the company’s strong management team, and existing investors, to help them execute their vision.’
To strengthen its European operation, Liberis has recently appointed Pedram Tadayon as EU General Manager. Pedram brings 20 years financial services industry experience to Liberis, having previously been CEO of Emric – a fintech provider in credit management, along with senior positions held at Nets, EnterCard and American Express.
Liberis also welcomes Jerome Hershey from FTV onto its Board. Having led OnDeck’s IPO as the Company’s Head of Business and Corporate Development, and with investing roles at Spectrum Equity and Technology Crossover Ventures, Jerome brings a wealth of knowledge and experience to Liberis and will support the organization as it continues to grow its presence in the United States.
