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.
Muse Raises $20m In Debt Facility To Support Small Businesses.Congratulations to the entire team. I wish you great success in this endeavour.Shishir Gupta, Founder and CEO, StartupLanes
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