Muse raises $20m in debt facility to support small businesses
Muse Finance – a bespoke finance provider for small, medium and growing businesses – today announces that it has closed a $20 million debt facility to support the growth of small businesses.
The additional funds mean that Muse now has access to over $96,000,000 USD (or £73,890,000 GBP), having previously raised £64 million for UK and European corporates from RiverRock and Prime 5 Finance Limited. The new debt facility comes ahead of Muse’s upcoming Series A round, which is planned for early 2023.
The funding will be used to further support its customers in the UK, providing them with best-in-class solutions for working capital. This includes ensuring that more companies have access to their new business finance solution, which combines supply finance and invoice finance to help businesses pay overseas suppliers while unlocking cash tied up in their pending business invoices.
The new facility also paves the way for Muse to provide its innovative invoice and supply financing solutions to companies based in the USA. Muse already has nearly five thousand customers in the UK and has supplied finance for over 36,000 invoices.
Ann Marie Juliano, founder and CEO of Muse, comments: “We’re thrilled to announce that we’ve extended our debt facility at Muse, raising a further $20 million to support UK small business. Right now there’s unprecedented pressure on businesses across the globe, particularly when it comes to cash flow management. We’re specifically built to help businesses that need fast access to funds to continue to grow – and with this facility we’ll be able to do even more to ensure small, ambitious businesses have the access to working capital that they need.”
People In This Post
Companies In This Post
- EXCLUSIVE: “Growing Your MGA, The Tipping Point” – James Elliott, INSTANDA in ‘The Insurtech Magazine’ Read more
- PureSoftware expands its presence in Europe with its New Delivery Centre in Bucharest, Romania Read more
- Polygon Partners With Blockchain Founders Fund to Empower Web3 Entrepreneurs Read more
- Societe Generale and Altalurra Ventures invest in impak ratings, a leading impact analysis and rating agency in Europe. Read more
- Onepoint confirms its intent to acquire Atos Digital, Big Data and Security businesses (Evidian) Read more