Outfund, a finance provider for online businesses, has raised £37mn.
Outfund is a revenue-based finance startup that aims to invest in businesses without taking equity.
The funding was led by Fuel Ventures.
It included TMT Investment and Force Over Mass.
What does this mean?
Outfund says that offering revenue-based financing is a “fairer” way to help online businesses grow, as an alternative to venture capital or bank loans. It currently offers loans between £10,000 and £2mn, and with the larger funds it aims to support more businesses.