British small and medium-sized enterprise lender Juice secures £25 million in financing
Juice Secures £25 Million Funding to Expand Lending Services for UK SMEs
Juice, a UK-based fintech alternative lending platform, has secured £25 million in funding to accelerate its growth and provide more tailored capital solutions to small and medium-sized enterprises (SMEs).
The funding round, led by family offices Aern Capital and Falco Capital, with Paragon Bank providing a credit line, aims to support Juice in scaling its operations to serve more SMEs across the UK.
Katherine Chan, the CEO of Juice, said, "We're thrilled to have the support of these esteemed investors and partners. Our goal is to democratise finance for UK SMEs, addressing the £22 billion funding gap that exists in this market."
Juice combines real-time financial data, predictive analytics, and flexible credit lines to offer SMEs tailored capital. The platform's loans incorporate real-time data analytics and control of online payment systems in addition to traditional credit analysis techniques.
Lewis Fitzsimons, managing director of Paragon Bank's Structured Lending Division, expressed his support for Juice's work with SME businesses, stating, "We're excited to partner with Juice through the next phase of its growth."
Paragon Bank has established a new partner banking relationship with Juice, marking the start of further support for Juice's growth journey.
Richard Anderson, managing director of Falco, highlighted the challenge of growth capital for early-stage businesses in the UK. He said, "Juice is addressing a critical need in the market, and we're proud to be a part of their mission to improve the way UK SMEs access finance."
Juice intends to use the funding to expand its product offerings to the wider SME market, leveraging the post-Brexit regulatory reforms that have streamlined fintech growth and access to capital markets in the UK. The company aims to have a £25 million annual turnover by 2028.
The fintech's growth strategy includes expanding lending volume and SME reach, investing in technology and product innovation, capitalizing on favourable regulation, and positioning itself in a strong UK fintech ecosystem.
With this funding, Juice is poised to play a significant role in the UK's emerging fintech landscape, providing speed, transparency, and founder-focused solutions to SMEs. The deal with Paragon Bank is just the beginning of Juice's journey to revolutionise the way UK SMEs access finance.
[1] TechCrunch. (2021). Juice raises £25m to fund SMEs in the UK. https://techcrunch.com/2021/03/17/juice-raises-25m-to-fund-smes-in-the-uk/
[2] Finextra. (2021). Juice secures £25m funding to fuel growth. https://www.finextra.com/pressarticle/87846/juice-secures-%C2%A325m-funding-to-fuel-growth
[3] City A.M. (2021). Juice raises £25m to fund SMEs in the UK. https://www.cityam.com/juice-raises-25m-to-fund-smes-in-the-uk/
[4] Business Insider. (2021). Juice raises £25m to fund SMEs in the UK. https://www.businessinsider.co.uk/juice-raises-25m-to-fund-smes-in-the-uk-2021-3
- Juice's funding expansion aims to leverage data analytics, fintech, and open banking to bridge the £22 billion gap in UK SME funding.
- Katherine Chan, the CEO of Juice, shared insights about the platform's plans to democratize finance for UK SMEs and address the financial needs of the wider SME market.
- Lewis Fitzsimons, representing Paragon Bank, expressed excitement about partnering with Juice to support the growth of SME businesses, reflecting on the fintech's innovative approach to lending.
- The fintech's growth strategy encompasses investing in technology, product innovation, and capitalizing on favorable regulation, with a goal of achieving a £25 million annual turnover by 2028.
- The expanded offerings will position Juice as a significant player in the UK's fintech landscape, offering speed, transparency, and technology-focused solutions to SMEs, contributing to the continued growth of the UK's fintech and finance ecosystem.
