Embedded finance startup Liberis has received €30m (£26.3m) in debt financing from the UK wing of Silicon Valley Bank.
Founded in 2007, the startup builds embedded finance platforms for SMEs to incorporate financial services into their customers’ products. The company’s tech has been used by fintechs such as Klarna, Tide, and Worldpay.
The fintech has been seeking a funding boost to fuel its expansion into the Nordic territories and central Europe, with Germany and Poland identified as key market targets.
Rob Straathof, CEO of Liberis, said: “Thanks to the debt financing provided by Silicon Valley Bank UK, Liberis can continue its expansion into new territories across Europe with new and existing embedded finance partners, further supporting small businesses with flexible funding options.”
The new funding from Silicon Valley Bank UK brings the total amount raised by Liberis to £378m. The startup previously raised £140m from Barclays in September 2022. The funding followed a deal between Liberis and the bank to provide SME financing.
“SME owners play a key role in driving the economy forward, and Liberis is supporting small businesses by giving access to reliable and sound capital to support their growth,” said Conor Sheehy, managing director and head of warehouse finance EMEA at Silicon Valley Bank UK.
“We look forward to working with Liberis to help them improve their customers’ probability of success as they extend their essential services into new geographies.”