LiftForward clinches $100m in debt capital

Small business lending platform LiftForward raises $100m in funding round facilitated by Monroe Capital.

LiftForward, a small business lender for manufacturers, distributors and retailers, has nabbed another $100m in debt capital. Monroe Capital LLC, a senior and junior debt and equity co-investments specialist in the US, acted as sole lead and administrative agent for the fundraise.

LiftForward’s strapline is that it allows manufacturers to sell goods and services as Hardware as a Service. The balance sheet based lender allows small businesses to finance up to $1m per transaction for asset purchases or working capital, with lending decisions made within minutes thanks to the applications of advanced technology.

LiftForward secured $250m in credit facilities in July 2015, courtesy of Varadero Capital and GLI Finance. GLI has been a shareholder in LiftForward since 2014, and the platform was highlighted as one of GLI’s “prioritised platforms” following a strategic review by the company earlier this year. GLI’s shares in LiftForward are held in a recently created entity by the name of FinTech Ventures Limited.

LiftForward is also backed by financial technology focused venture capital firm IA Capital Group, Inc. and Syncora Holdings – a US based public insurance company.