European and US Small Businesses Receive Funding Lifeline

Jun 2019

Liberis Group, the UK fintech on a mission to transform small business finance through technology, data and partnerships, today announced that it has increased its global footprint with the opening of new offices in the Nordics and US.

As banks and traditional finance providers around the world become more risk-averse, small businesses are finding it harder to get the funding they need. The increase of Liberis Group’s worldwide presence is therefore set to improve the ease and access to funding, as well as help partners such as acquirers reduce customer churn by offering flexible financing directly to their small business customers.

The British Business Bank has investigated the decline in small business funding from traditional banks, highlighting the conventional repayment models they offer rarely fit with typical small business cash flow models. With these types of businesses often having irregular and seasonal revenue streams, the traditional fixed monthly repayment process restricts how much they can borrow to fuel their growth. Liberis Group is changing this by providing small business friendly finance. Funding lines have been designed from the outset to be quick and easy to access, with payments working inline with cash flow and avoiding the need for small businesses to be tied down to fixed, monthly repayments.

Small businesses are the backbone of the global economy, but they are under threat because they can’t access the funding they need. The lack of access to money threatens to not only put jobs at risk, but also cause the global economy to slow. To help ease these issues we’re working with partners who want to deepen their relationship with small business customers by providing them with the funding and a repayment plan that suits them,” said Rob Straathof, CEO of Liberis Group.  “It is a sign of our team’s hard work and commitment that in just 12 months we have gone from operating only in the UK to working with leading acquirers to empower small businesses across the globe. The demand from small businesses around the world shows that there is a gap in the market when it comes to access to funding. In fact, we have already seen a 50% year-on-year increase in our book size.

To support Liberis Group’s mission of providing small businesses with better access to alternative financing options, the new offices include sales, customer service, underwriting, marketing, HR and management teams. In addition to opening new offices in the US and Nordics, Liberis Group is also looking at further expansion into the Middle East and Asia to help our partners reduce customer churn by enabling their small business customers to receive funding and stay with their payment provider for longer. With the World Bank estimating that the global funding gap for small businesses currently stands at around $2.6 trillion, the need for better financing solutions is clear, with many businesses and jobs at risk of disappearing if solutions aren’t found.

Rob Straathof concluded; “having provided over £315 million to small businesses and with a net promoter score (NPS) of 80, we know what small businesses need to grow and prosper. Ultimately, though this is just the start. We know that there are more businesses out there that need our help if they are to grow and thrive. By making  our technology, data and partnerships accessible across the globe we are making it easier for more small businesses to access the funding they need.”