Outfund, a finance provider for online businesses, has raised £37mn.
In Brief:
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Outfund is a revenue-based finance startup that aims to invest in businesses without taking equity.
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The funding was led by Fuel Ventures.
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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.
