B2B lending platform secures multi-million-pound investment with venture capital firm
A B2B lending platform has secured a £2m investment from London’s VC fund Fuel Ventures.
The new platform allows businesses to spread the cost of their purchases over 12 months, while their suppliers are paid upfront and in full.
VC fund Fuel Ventures has expanded its portfolio of early-stage companies, investing £2m in CreditDigital which provides instant finance of up to £250k to businesses online or at point of sale.
CreditDigital is an instalment payment option where businesses can spread the cost of their purchase over 12 months, whilst their vendors and suppliers get paid upfront and in full.
The platform can approve purchases of up to £15k instantly and up to £250k within one working day with competitive rates and flexible payment options.
Founded in 2017 by Daniel Lipinski, CreditDigital promises better rates than banks, with repayment options from 30 days to 12 months.
The investment from Fuel Ventures will be used to expand CreditDigital’s business further in the UK and increase the product offering.
Daniel Lipinski, founder of CreditDigital, said: “Since we launched we’ve grown rapidly, so I’m excited to see where this investment will take us.
“We are confident that CreditDigital will become the go to payment option for all business purchases in the next couple of years.
“Currently, there isn’t a service like ours in the UK, so we’re excited to offer a unique finance solution to UK businesses to help them grow.”
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