Liberis, the embedded finance provider for SMEs, raises additional £70M in debt
Liberis, the U.K.-based fintech that provides finance for small businesses as an alternative to a traditional bank loan or extended overdraft, has replenished its own coffers with £70 million in funding. The round is a mixture of debt and venture debt, although the company is declining to disclose the percentage split, so we can likely chalk this up as mostly debt to fund the loans Liberis issues.
Providing the financing are previous backers British Business Investments, Paragon Bank and BCI Europe, along with new partner Silicon Valley Bank (SVB). It brings the total funding raised by Liberis to £200 million, including more than £50 million in equity funding. “The new funds will be used to fuel company growth, launch new products and markets, and provide additional customer financing solutions,” says the fintech.
Liberis, the embedded finance provider for SMEs, raises additional £70M in debt yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
Investors in the leading banks have endured a hair-raising year. At times, Lloyds, NatWest, Barclays and HSBC have seen their share prices dwindle to under half what they were 12 months ago. But are they now turning a corner?
Banks were this month given the green light to restart paying dividends – a huge relief to shareholders who rely on their holdings for an income. In March the industry regulator, the Prudential Regulation Authority, had asked banks to freeze dividends to private investors and pension funds. Instead, banks were told to use the payments to build up a cash pile as a buffer against potential loan losses.
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A combination of Bank of England base rate cuts, a new funding for lending scheme and the ongoing economic uncertainty has resulted in saving rates falling to historic lows during 2020. It is clear that it has been a disappointing year for many savers, but, although we cannot predict the future, it is hoped that 2021 will see some signs of recovery.
Below we have highlighted some of the banks that savers should watch during 2021.
The up and coming challenger banks
Despite the economic uncertainty, a number of banks launched savings products for the first time this year. Of these, JN Bank and DF Capital offered some of the most competitive rates in both the easy access and fixed rate bond charts.
Why some banks gave so many loans to certain industries, and who gave where bizjournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizjournals.com Daily Mail and Mail on Sunday newspapers.