Revenue-based finance provider Outfund has closed a £115M Series A round of equity capital and debt, joining the growing ranks of firms vying for company business across Europe.
The round included £100 million in debt financing and a £15 million capital injection from Force Over Mass, Switzerland’s PostFinance, Guernsey’s 1818 Venture Capital and Tribe Capital.
With this new investment, Outfund is pledging to invest more than £500m of lending to over 5,000 businesses in the next 12 months, and will increase its lending limit to £10m per company.
Founders seeking capital need to connect their online and offline revenue accounts with Outfund, which will use the data to build a funding offer and deploy the same day.
The company is operating in a teeming market, with at least 18+ revenue-based financing providers operating across Europe.
Like many of its peers, Outfund achieved significant growth in 2021, growinging revenues sixfold and expanding into three new countries as the pandemic drove more businesses online. With its wider reach and new capital, it is set to loan over £500M in 2022 and expected to fund over 5,000 businesses across the globe.
The company also plans to double its team from 70 to 150 people by the end of 2022
CEO Daniel Lipinski says: “What sets us apart from the market is our technology and our ability to provide in-product finance solutions to almost any partner, ensuring not only rapid growth but also the ability for our partners to provide a range of value-add financial products to their customer base."