Small business lending platform LiftForward raises $100m in funding round facilitated by Monroe Capital.
LiftForward, a small business lender for manufacturers, distributors and retailers, has nabbed another $100m in debt capital. Monroe Capital LLC, a senior and junior debt and equity co-investments specialist in the US, acted as sole lead and administrative agent for the fundraise.
LiftForward’s strapline is that it allows manufacturers to sell goods and services as Hardware as a Service. The balance sheet based lender allows small businesses to finance up to $1m per transaction for asset purchases or working capital, with lending decisions made within minutes thanks to the applications of advanced technology.
LiftForward secured $250m in credit facilities in July 2015, courtesy of Varadero Capital and GLI Finance. GLI has been a shareholder in LiftForward since 2014, and the platform was highlighted as one of GLI’s “prioritised platforms” following a strategic review by the company earlier this year. GLI’s shares in LiftForward are held in a recently created entity by the name of FinTech Ventures Limited.
AltFi is returning to Amsterdam for its second annual Summit in the city. The inaugural event last year was a roaring success, with key figures from across Continental Europe's alternative finance and digital banking sectors highlighted. These included Jeroen Broekema, managing director of Funding Circle Netherlands, and Mieke van Engelen, head of innovative partnerships at ABN AMRO's standalone lending platform, New10.