The SME lender is continuing its bid to boost growth having recently hired ex-Funding Circle exec.
Merchant Money, an SME lender, has secured a long-term debt facility of £10m from investor BG Finance.
The Luxembourg Entity has previously provided a total of £6m in debt to the SME lender.
Merchant Money offers small business loans, as well as a Merchant Cash Advance product.
Luke Jooste, former head of real estate finance at Funding Circle and CEO of Merchant Money, said: “This additional £10m debt facility is another key milestone in achieving our growth ambitions for 2020 and proof of BG Finance’s increased measure of confidence in Merchant Money.”
Since his appointment in September 2019, Jooste has continued to solidify the foundations needed to scale the business, increasing Merchant Money’s lending volume in the latter part of 2019.
Danny Girnun, managing director of Merchant Money, says the £10m injection is “proof of our commitment to growth.
“We continue to prove that we are an investable and profitable business and fully intend to continue our business growth and success”.