Silicon Valley Bank has given Liberis €30 million in debt funding so that it can expand into Germany, Poland, and the Nordic countries.
The Liberis platform uses machine learning to figure out a customer’s risk profile and available funding options. This lets its business partners, which include acquirers, brokers, PSPs, e-commerce platforms, and SaaS providers, make more loans.
With more than 15 strategic partners around the world and direct access to more than 1 million small businesses, Liberis has given nearly €1 billion in loans in more than 45,000 transactions since it started in 2017.
With the help of the new debt facility from Silicon Valley Bank UK, Liberis will be able to give its customers money in EUR, SEK, and DKK. This will reduce their exposure to foreign exchange risk.
Rob Straathof, CEO of Liberis, comments: “Thanks to the debt financing provided by Silicon Valley Bank UK, Liberis can continue its expansion into new territories across Europe with new and existing embedded finance partners, further supporting small businesses with flexible funding options.”
This brings the total amount of money Liberis has raised to €430 million, which includes more than €80 million in equity financing. Silicon Valley Bank UK joins Barclays Bank, BCI Finance, and UK-based venture builder Blenheim Chalcot as investors.
