UK FinTech Liberis has raised £70mn in equity and debt.
In Brief:
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Liberis is focused on providing finance to SMEs.
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It aims to offer an alternative to bank loans and overdrafts.
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Investors include the British Business Bank, Paragon Bank, BCI Europe and Silicon Valley Bank.
What does this mean?
SME finance offering have become even more important over the past year as cash flows for various businesses have suffered from the impact of Covid-19.
Liberis says it will use the new investment to launch products and enter new markets.
