Ashcombe advises 365 Business Finance on its Series A fundraise
Ashcombe is pleased to announce that is has advised 365 Business Finance on its recent Series A funding round which was led by Kendal Capital.
365BF is a dynamic fintech business offering merchant cash advances (“MCA”) to small and medium sized businesses across the UK. Based on its proprietary technology platform and a unique automatic collections process, it has performed strongly throughout the Covid-19 pandemic with market-leading credit performance and origination volumes that are now significantly above pre-pandemic levels.
Andrew Raphaely, 365BF’s CEO said:
“This capital raise allows us to accelerate our penetration into the SME space in the UK with a view to becoming the leading MCA provider here. Ashcombe worked with us throughout these challenging market conditions, and we are looking forward to working with them again in the future.”
Andreas Wesemann, Partner at Ashcombe, commented:
“365BF already has market-leading technology for underwriting and collections. This funding round will allow it to further strengthen its position as a highly innovative lending technology business in the UK and, ultimately, in selected international markets.”