365 Finance signs £150m Pollen Street facility
365 Finance, an award-winning provider of revenue-based finance to UK and Irish SMEs, has secured a £150m debt raise with Pollen Street Capital.
The facility will support over £300m in annual originations and builds on 365’s 50% annual growth-rate since 2020. The facility now also incorporates a euro line to support Irish SMEs.
London-based 365 Finance has originated over £0.5bn to SMEs since 2014, and can advance up to £500,000 to businesses less than 24 hours from application.
Warren Abbey, 365 Finance CEO, said, “Our mission remains clear – to empower as many small businesses as possible by providing flexible, accessible capital through a customer-centric approach. Our growing partnership with Pollen Street enhances our ability to leverage cutting-edge technology and an innovative, highly automated lending platform to deliver on that promise.”
Adam Brown, 365 Finance CFO, added, “We are delighted to build on our long-standing relationship with Pollen Street who continue to support the journey of 365 Finance. We see the deepening and broadening in our funding capabilities positively impacting UK and Ireland SMEs, as they address cashflow needs.”
Michael Katramados, partner, Pollen Street, said, “We are pleased to build on our strong relationship with 365 which started in 2018, increasing our facility to support their growth. Through this facility our financing will continue to support SMEs across the UK and Ireland, helping businesses access flexible and timely capital that meets their needs.”
365 Finance recently received a King’s Award for Enterprise for Innovation in 2024, in recognition of the company’s AI-powered platform. Automated underwriting accompanied with a personalised approach are at the core of 365’s leading customer service. With this increase in funding, the business is well capitalised for the coming years to reach even more customers.