Growth Street matches £100m with growing SMEs
Growth Street has announced that it has matched £100m of investors’ money with growing scale-up businesses in the UK.
Since launching in 2015, Growth Street has helped growing businesses to achieve their ambitions, whether they are looking at funding for growth, acquisitions, or management buy-outs and buy-ins. According to accounting data collected by Growth Street, in the 12 months to July 2017 Growth Street borrowers collectively generated revenues of £212.7m, boasting collective profits of £22m. Over the same period, Growth Street’s borrowers grew at an impressive rate of over 20% year-on-year.*
Growth Street has developed what’s believed to be a ground-breaking solution for businesses looking to grow: GrowthLine. Much like a flexible overdraft, GrowthLine allows companies to access up to £1m, drawing down and making repayments within their limits as much as they like.
Growth Street is also developing a free automated cash flow forecasting tool to help business owners make smarter decisions.
Growth Street helps SMEs across many industrial sectors, including wholesale, IT / technology, recruitment, manufacturing, healthcare, retail and the services sector.
Greg Carter, CEO, Growth Street, said:
“At a time when SMEs are under immense economic and financial pressure, we’re proud to have reached the landmark of matching £100m with small- and medium-sized businesses. SMEs are the heartbeat of the UK economy and it is critical that this hard-pressed segment of the market gets the funding it needs.
“And we’re just getting started. We’re now aiming to deliver another £100m* of investment into growing businesses through our platform over the next 12 months.
“We love helping businesses grow. We’re delighted to have been able to give so many ambitious founders and their businesses the tools to drive their success to a new level.”
(*Past performance and forecasts are not a reliable indicator of future results.)