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21 May 2015

Funding Options secures £2million from listed investor GLI Finance Limited

Press Release 21st May 2015

GLI Finance Limited ("GLI" or "GLI Finance"), a leading investor in the alternative finance sector, has invested £2 million in Funding Options Ltd (Funding Options), a portfolio company of The North West Fund for Digital & Creative.

GLI Finance invested £1.25 million in return for a 28.9% stake in the ordinary equity and £0.75 million of preference shares of SME credit broker Funding Options. GLI Finance Chief Executive, Geoff Miller, will also join Funding Options' board of directors.

Funding Options uses proprietary online technology to scan the alternative finance market for the most suitable funding options available. Mixing sophisticated matchmaking tools, accessible expert support and practical education materials, Funding Options has helped UK SMEs to access tens of millions of pounds in vital funding. Funding Options has applied to HM Treasury for designation as a neutral platform, which would mean that SMEs rejected for bank finance can be referred to it.

Geoff Miller, Chief Executive of GLI Finance said: "Funding Options is a great business using sophisticated matchmaking technology alongside expert support and I am delighted to welcome them to the GLI family. Funding Options exemplifies how brokered alternative finance can be invaluable for small businesses trying to navigate an ever expanding range of financers, having referred UK SMEs to more than fifty alternative lenders in the past year."

Conrad Ford, Founder and Chief Executive of Funding Options said: "We are excited to be partnering with GLI and Geoff's team. Our vision is to be a one-stop-shop for small businesses with financing needs, no matter how challenging, urgent or unusual. We look forward to working with the GLI family of investments, finding synergies and learning from their deep understanding of the alternative finance sector, both in the UK and globally."

David Smith, Investment Director, AXM Venture Capital, which manages The North West
Fund for Digital & Creative, added: "We are delighted that GLI Finance shares our vision for Funding Options, and by the prospects for accelerated growth created by their support."

The North West Fund for Digital & Creative is part of the wider North West Fund and is financed by the European Regional Development Fund and the European Investment Bank. The Digital & Creative Fund first invested in Funding Options in December 2013, alongside co-investors Ric Traynor, founder of Begbies Traynor Group, and Alan Morgan, co-founder of MMC Ventures.

 

 


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