Revenue-based financing is experiencing a boom in Europe as it is in the US. One of the better-funded revenue-based lending businesses in Europe is the UK-based startup platform Bloom, which has just secured a $3300m financing round led by Credo Capital and Fortress Investment Group.
Wayflyer in Ireland has raised a total of $636.2M, and Clearco in the US has raised $681.5M.
The revenue-based lender says its pricing model and features set it apart from similar startups which have arisen in the last 18 months.
James Hickson said in a statement that they are not a revenue-based lender. Based on the current pricing status quo, we estimate that merchants have incurred over 200 million dollars in excess fees. Money could have been used for more stock, increased ad spend, or customer incentives. We saw an opportunity to innovate.
The company was founded in Luxembourg during the Pandemic.
Demand for online lending has increased in Europe. We wanted to make an investment in a platform that was moving the product forward and combined all of the great technology and analytics you expect with a really differentiated product and approach.
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