London-based 365 Business Finance has successfully raised £55 million in debt, and equity raise and the fintech lender has drawn up plans to quadruple its lending to small and medium enterprises (SMEs) during the two years. While Kendal Capital, a specialty investment firm, provided funds against equity, Pollen Street Capital, an alternative investment management firm, invested through a debt facility. Business Finance’s managing director Andrew Raphaely said that the innovative revenue-based finance product of his fintech has become very popular with small businesses. Lately, his firm has been growing at a significant pace, which is remarkably higher than its pre-COVID levels.
