The funding will help Bloom support growth in Europe and the US. Here are the top-line bullets you need to know.
Bloom, a revenue-based lender, has raised $377.5M in a Series A. The round drew participation from Fortress Investment Group and Credo Capital Management.
HOW’S THE COMPANY PERFORMING?
- UK-based Bloom analyzes sales and marketing data in order to provide companies with revenue-based capital, including loans and financing.
- The platform’s brand partners include Shopify, Amazon, eBay, and Wix.
- It has lent over $12B in capital to its clients.
Source: Bloom
WHY DOES THE MARKET MATTER?
- The global revenue-based financing market is expected to reach a value of $42.4B by 2027, growing at a CAGR of 61.8%, according to Allied Market Research.
- Startups are looking to obtain growth capital more quickly, which has contributed to growth in this market.
- Companies increasingly turned to alternative financing options amid pandemic-induced financial downturn.
