Capital provider Bloom Group has secured £300 million in a Series A finding round led Credo Capital Partners and funds managed by Fortress Investment Group LLC (Fortress), making the company the highest-funded revenue-based lending business in Europe.
Capital provider Bloom Group has secured £300 million in a Series A finding round led Credo Capital Partners and funds managed by Fortress Investment Group LLC (Fortress), making the company the highest-funded, revenue-based lending business in Europe.
The financing will drive the company’s ambition to become Europe’s leading provider of capital to digital entrepreneurs.
Led by the ex-head of Morgan Stanley’s Fintech Enterprise and experienced Fintech CEO, James Hickson, Bloom specialises in providing capital to growth businesses that operate predominantly online.
The company is the next generation of revenue-based lender, differentiating itself from the wave of similar models that have emerged over the last 18 months through its pricing model and range of product features that enable brands to only pay for what they use, thus addressing gaps in the first wave of funders products.
Christopher Dailey, Co-Managing Partner of Credo Capital Partners will join the board as part of this transaction and play an active role in helping Bloom grow.
