London-based SME lender 365 Finance has secured a £150 million debt facility with Pollen Street Capital, enabling the company to support over £300 million in annual loan originations. The facility includes a euro-denominated line to expand lending to Irish SMEs.
Since its launch in 2014, 365 Finance has provided over £500 million in funding to small and medium-sized enterprises (SMEs) across the UK and Ireland. The company, which has experienced a 50% annual growth rate since 2020, offers advances of up to £500,000 to businesses within 24 hours of application.
Go deeper with GlobalData
365 Finance CEO Warren Abbey said, “Our mission remains clear – to empower as many small businesses as possible by providing flexible, accessible capital through a customer-centric approach. Our growing partnership with Pollen Street enhances our ability to leverage cutting-edge technology and an innovative, highly automated lending platform to deliver on that promise.”
Adam Brown, CFO of 365 Finance, highlighted the strengthening relationship with Pollen Street: “We are delighted to build on our long-standing relationship with Pollen Street, who continue to support the journey of 365 Finance. We see the deepening and broadening of our funding capabilities positively impacting UK and Irish SMEs as they address cashflow needs.”
Michael Katramados, Partner at Pollen Street, said, “We are pleased to build on our strong relationship with 365 Finance, which started in 2018, increasing our facility to support their growth. Through this facility, our financing will continue to support SMEs across the UK and Ireland, helping businesses access flexible and timely capital that meets their needs.”
Shawbrook’s PE owners eye £2bn IPO
