Swoop, a London, UK-based money shop for businesses, raised £5.4m in a Series A funding.
Backers included Velocity, Arab Bank Ventures, IAG and WeHo Ventures in California.
The company intends to use the funds to accelerate international expansion, with a particular focus on North America, as well as to enhance its technology and proposition, aggregating banking, accounting and credit data
Led by Andrea Reynolds, CEO and Co-Founder, Swoop provides a software platform for businesses to investigate and access a wide range of funding sources, including equity, grants, loans and tax credits. The company is targeting the US through its existing operations in Canada and this follows the recent establishment of an Australian operation, in addition to its offices in the UK and Ireland. Swoop is a partner to all the major banks in the UK and has partnerships with business bodies including the British Chambers of Commerce and the Institute of Chartered Accountants in England and Wales.
More than 75,000 businesses have used the platform to date.
Founded in 2017, Swoop will have 80 staff by the end of the summer, up from 60 at present.
FinSMEs
13/06/2022