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MarketFinance raises £50m to support CBILS “last minute dash”
London based peer-to-peer online invoice finance marketplace raised £50m in new funding led by Viola Credit to continue lending under the UK government’s Coronavirus Business Interruption Loan Scheme (CBILS).
“Only 60,409 CBILS facilities have been approved since the pandemic started, versus 1.2 million Bounce Back Loan approvals,” says Anil Stocker, CEO at the firm. “This shows there are many businesses who could still benefit from accessing CBILS finance before the scheme ends. “For many who took a Bounce Back Loan, there is now a short window where they can refinance onto a larger CBILS facility which could see them over to the new year.”
https://www.fintechfutures.com/2020/09/marketfinance-raises-50m-to-support-cbils-last-minute-dash/
