INSUBCONTINENT EXCLUSIVE:
raised by Liberis is debt, which in turn will enable it to issue more loans
The facility is being provided by British Business Investments (the commercial arm of the tax payer-funded British Business Bank), Paragon
Bank, and BCI Finance.In addition, Blenheim Chalcot has made an equity investment into Liberis
especially attractive to seasonal businesses that have very uneven sales throughout different times of the year
CEO of Liberis, he conceded that this means the fintech startup is taking on more of the risk, but says the company is seeing the vast
majority of loans paid back within the projected timeframe
To help manage risk and make the required sales projections, Liberis uses various data points, including transactions pulled in from a
number payment platform partners such as Worldpay, and Sagepay
Similarly, it also integrates with take-out marketplace Just Eat, which gives the startup the ability to offer financing to small
The advent of Open Banking, which lets bank account holders share their transaction data via an API, will also enable Liberis to extend its
reach.Examples of small business customers given by Straathof include a local bakery that needs to invest in a new oven, a neighbourhood pub
that wants to expand with a beer garden, or an online retailer that needs to incrementally restock to meet rising demand
Amazon, of course, offers its own business financing based on Amazon Market transaction data
PayPal and Square also offer credit for retailers
Meanwhile, SME peer-to-peer lending platforms, such as Funding Circle, might also be viewed as a competitor.
