B2B lending platform CreditDigital has secured 拢2 million investment.
The London firm allows businesses to spread the cost of their purchases over 12 months while their vendors and suppliers get paid up front and in full. The platform can approve purchases of up to 拢15,000 instantly and up to 拢250,000 within one working day.
Founded in 2017 by Daniel Lipinski, CreditDigital promises better rates than banks, with repayment options from 30 days to 12 months. It can be integrated into any B2B e-commerce checkout or existing invoice system for a 鈥楶ay with CreditDigital鈥� option.
The investment from聽London-based VC fund Fuel Ventures will be used to expand CreditDigital鈥檚 business further in the UK and increase the product offering.
鈥淪ince we launched we鈥檝e grown rapidly, so I鈥檓 excited to see where this investment will take us,鈥� said Daniel Lipinski, founder of CreditDigital.
鈥淲e are confident that CreditDigital will become the go-to payment option for all business purchases in the next couple of years. Currently, there isn鈥檛 a service like ours in the UK, so we鈥檙e excited to offer a unique finance solution to UK businesses to help them grow.鈥�
Mark Pearson, founder of Fuel Ventures, said: 鈥淪ince we launched in 2014, we have been committed to investing in companies that we believe have exceptional growth potential.
鈥淐reditDigital is certainly a company that has that potential. It鈥檚 an innovative business which allows businesses to bypass banks for important purchases, without having to wait and worry about whether they will be approved or charged ridiculous interest rates.
鈥淚t鈥檚 a much-needed service that has a huge target audience, I鈥檓 excited to see how the CreditDigital team develops the business over the next 12 months.鈥�