Multifi, a London-based fintech that provides credit services to SMEs, has raised £10m in loan capital.
In brief:
-The fresh funds will go towards Multifi’s credit facility offerings for small businesses. Multifi offers SME loans of up to £200,000.
-The new funding came from the London-based asset manager Fasanara Capital, which this month also invested £11m into Untangled Finance.
-In November of last year, Fasanara Capital secured £169m from a Canadian pension group for its fintech investment fund.
What does this mean?
“Business finance is overly complex, often leading to immediate rejection for enterprises needing funding. We aim to revolutionise this process by simplifying access to finance,” said Multifi CEO Rob Keown-Boyd.
