365 Finance has finalised a £150m debt facility with Pollen Street Capital to boost its revenue-based finance offerings for small and medium-sized enterprises (SMEs) in the UK and Ireland.
This funding will support over £300m in annual originations, building on the company’s 50% annual growth rate since 2020.
A euro line is also included to further aid Irish SMEs.
Warren Abbey (pictured), chief executive officer of 365 Finance, said: “Our mission remains clear – to empower as many small businesses as possible by providing flexible, accessible capital through a customer-centric approach.
“Our growing partnership with Pollen Street enhances our ability to leverage cutting-edge technology and an innovative, highly automated lending platform to deliver on that promise.”
Adam Brown, chief financial officer at 365 Finance, said: “We are delighted to build on our long-standing relationship with Pollen Street who continue to support the journey of 365 Finance.
“We see the deepening and broadening in our funding capabilities positively impacting UK and Ireland SMEs, as they address cashflow needs.”
Michael Katramados, partner at Pollen Street, said: “We are pleased to build on our strong relationship with 365 which started in 2018, increasing our facility to support their growth.
“Through this facility our financing will continue to support SMEs across the UK and Ireland, helping businesses access flexible and timely capital that meets their needs.”
