(22 January 2020 – United Kingdom) UK-based alternative finance provider Liberis has raised $42 million in equity financing and appointed PayPal's former head of credit operations Howard Kramen as its US general manager.
The company, which has so far provided over 15,000 small businesses with more than £400 million in funding both directly and through partnerships with merchant acquirers, is currently present in UK, US, Sweden, Czech Republic, Slovak and Finland.
The firm says the new funding will be used to grow its US footprint, enter two new European markets and increase headcount by 30 percent over the coming year.
In the US, Liberis has formed a partnership with Worldpay and has appointed industry veteran Mr Kramen to spearhead its efforts across the States.
Rob Straathof, CEO, Liberis, comments: “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. 2020 is set to be an exciting year for Liberis as this financial investment will help to accelerate our plans to support millions of small businesses around the world with fast, flexible and fair funding.”