Fintech company Outfund has closed a £115 million Series A round led by Force Over Mass, PostFinance, 1818 Venture Capital and Tribe Capital.
The finding will support Outfund’s rapid global growth as it provides a faster, fairer and more affordable way for SMEs to raise growth capital across the globe.
Founders seeking capital can apply for finance using Outfund’s simple online application. Given the proprietary technology and product, only simple checks are required to access capital and there is no need for companies to provide business plans or go through prolonged risk assessments. Businesses simply connect their revenue accounts and, with access to this data, Outfund will build a funding offer and deploy the same day.
Outfund can deploy between £10,000 and £10 million of funding, and is available to businesses that take online payments, have a minimum of £10,000 monthly turnover, and have been trading for at least six months.
