EZBob Ltd, which trades as business e-lenders Everline and EZBob, has announced that it has secured a three-year £25m debt funding facility from Shawbrook Bank and Honeycomb Investment Trust (Pollen Street Capital Limited – investment manager).
This latest funding follows the close of the FinTech start-up’s Series C investment round in March, with a £20m equity from Bank Leumi, and existing investor, Oaktree Capital Management L.P.
Having already provided over
£100m and over 8,500 loans to small businesses in the
Tomer Guriel, CEO and co-founder of EZBob Ltd, said:
“Securing senior debt
facilities from two leading
Michael Katramados, Shawbrook Bank, added:
“Shawbrook is a bank
dedicated to financing UK SMEs. We have known EZBob Ltd for quite a few years
now and are pleased to once again assist a business that, like us, is keen to
support small businesses in the
Lindsey McMurray, Honeycomb Investment Trust, said:
“We have known the team and the business for a number of years and are excited about the opportunity to support them in their next phase of growth. We have been impressed by both the team and their technology platforms and believe it puts them in a strong position to support UK SMEs, a sector that many lenders have retrenched from in recent years.”
The e-lender’s fully automated smart lending platform links directly to a business’ key data sources, such as cloud based accounting services, tax reports and bank statements, to make up-to-date and rapid lending decisions based on the business’ performance. The application process, risk and decision making and servicing are all fully automated, meaning funds of up to £120k can be in a business’ bank account within minutes.