London-based multifi, a credit platform that empowers small and medium-sized businesses (SMBs) with access to financial support, announced that it has secured £10M (approximately €11.48M) in a fresh round of funding.
The investment came from Fasanara Capital, a London-based asset manager and technology platform with £4B under management.
Matt Kus, Head of Origination for Developed Markets at Fasanara, says, “Fasanara is committed to supporting the UK SMB ecosystem through funding partnerships with lenders like multifi.”
“As a quantitatively focused asset manager, we are excited by multifi’s prudent risk control framework which heavily leverages technology, enabling it to provide working capital finance to UK SMBs via flexible facilities that can be paid out quickly.”
“We are confident that our partnership with multifi will enable them to effectively scale a portfolio providing much-needed funding to UK SMBs, the backbone of the UK economy.”
Fuelling the growth of SMBs
According to multifi, SMBs are crucial to the UK economy and often face cashflow challenges, leading to 82 per cent of business failures. The company aims to address this issue through its platform, which simplifies access to credit for SMBs.
Mark Blandford, founder of Sportingbet PLC and a venture capitalist with notable exits including Envoy and Ethoca, serves as the principal founder and chairman of the company.
The company provides integrated finance, payments, and foreign exchange services to growing companies. Having already lent £150M to small and medium-sized businesses, the platform plans to expand its offerings.
multifi’s platform allows businesses to check their eligibility for up to £200K instantly. It offers an affordable solution with a fixed monthly access fee of 0.3 per cent and an interest rate of 1.99 per cent per month on used credit.
The company says, “Our mission is clear: take the faff out of business finance. SMBs play a vital role in the UK, yet they often face barriers when seeking the credit needed for growth. multifi’s user-friendly platform eliminates complexity, providing businesses with rapid access to the funding required to thrive.”
multifi, led by a team from renowned institutions like Aldermore, Barclays, Citi, and HSBC, is dedicated to empowering businesses in sectors such as wholesale, manufacturing, and logistics, offering “unparalleled” support for growing enterprises.
Brief about Fasanara Capital
Founded in 2011, Fasanara Capital is an FCA-authorised investment firm and technology platform. With over 200 employees across 5 offices, the firm manages approximately $4B in Fintech strategies for pension funds and insurance companies in Europe and North America.
Fasanara focuses on providing institutional access to multi-asset capacity-constrained niche products, offering uncorrelated and resilient alternative sources of return, and real economy impact.
The firm’s unconventional investment strategies adapt to the challenges posed by today’s transformative markets.
Fasanara Capital claims to serve as the central hub in a decentralised global ecosystem, connecting 135+ fintech loan originators in 60+ countries through its integrated technology platform.
With over a decade of experience, they have mapped 1,250+ platforms and conducted thorough due diligence on more than 400 of them.