Bloom Group S.A., a London, UK-based revenue-based lending business, secured £300m in funding.
Credo Capital Partners was the lead investor and Fortress Investment Group LLC managed the funds.
The company plans to use the funds for expansion across Europe.
Led by the ex-head of Morgan Stanley’s Fintech Enterprise and experienced Fintech CEO, James Hickson, Bloom specializes in providing capital to growing businesses that operate predominantly online. The revenue-based lender differentiates itself from similar models through its pricing model and range of product features that enable brands to only pay for what they use. The product’s pricing model and deployment are flexible and allow customers to pay only for what they use. Fixed-fee revenue-based loans offer the transparency and predictability of fixed-fee lending. Bloom does not offer capital for stock, marketing, or any other purpose. It believes that business owners with growing businesses should be able to use capital in whatever way suits them.