Member Article

Funding Options secures £2m investment from GLI Finance Limited

GLI Finance Limited, an investor in the alternative finance sector, has invested £2 million in Funding Options Ltd, a portfolio company of The North West Fund for Digital & Creative.

GLI Finance invested £1.25m in return for a 28.9% stake in the ordinary equity and £750k of preference shares of SME credit broker Funding Options.

GLI Finance Chief Executive, Geoff Miller, will also join Funding Options’ board of directors.

Funding Options uses proprietary online technology to scan the alternative finance market for the most suitable funding options available.

Funding Options has also applied to HM Treasury for designation as a neutral platform, which would mean that SMEs rejected for bank finance can be referred to it.

Chief executive of GLI Finance, Geoff Miller, said: “Funding Options is a great business using sophisticated matchmaking technology alongside expert support and I am delighted to welcome them to the GLI family.

“Funding Options exemplifies how brokered alternative finance can be invaluable for small businesses trying to navigate an ever expanding range of financiers, having referred UK SMEs to more than fifty alternative lenders in the past year.”

Founder and chief executive of Funding Options, Conrad Ford, said: “We are excited to be partnering with GLI and Geoff’s team.

“Our vision is to be a one-stop-shop for small businesses with financing needs, no matter how challenging, urgent or unusual.

“We look forward to working with the GLI family of investments, finding synergies and learning from their deep understanding of the alternative finance sector, both in the UK and globally.”

Investment Director, AXM Venture Capital, which manages The North West Fund for Digital & Creative, David Smith, added: “We are delighted that GLI Finance shares our vision for Funding Options, and by the prospects for accelerated growth created by their support.”

This was posted in Bdaily's Members' News section by Sophia Taha .