365 Business Finance secures £55m funding

The provider of revenue-based finance has already seen significant growth in demand, with demand more than doubling from pre-Covid levels.

The equity round saw Kendal Capital invest in the business, while the debt facility was concluded with Pollen Street Capital.

Andrew Raphaely, managing director of 365 Business Finance, said: “Our innovative revenue-based finance product has proven ever more popular with small businesses, to the extent that we’ve been growing at a pace that far exceeds our pre-Covid levels.

“With fully automated repayments, a flexible repayments solution and service unmatched in our sector, we’ve positioned ourselves as the go-to alternative finance provider.

“This raise will help us meet our goal of quadrupling our lending over the next two years, and to become the leading revenue-based finance provider in the UK.”

Michael Katramados, partner at Pollen Street Capital, commented: “We are delighted to build on our strong relationship with 365 and continue as their main funding partner as they embark on the next chapter of their growth. This facility aligns with our commitment to generating positive impact, with 365 Business Finance supporting SMEs across the UK with flexible finance.”

Grant Kurland, director of Kendal Capital, added: “365 has enjoyed stellar growth in recent years – their innovative product, outstanding team and huge demand in the market combine for a very exciting future, which we’re thrilled to be part of.”