Supply chain finance Fintech, Whitehall Finance have successfully completed their latest funding round. The round includes investment from Cirdan Capital Management and The FSE Group, through the Thames Valley Berkshire Growth Fund. Founded in 2015, Whitehall Finance provide innovative supply chain finance, unlocking the potential for businesses and suppliers to obtain immediate payment for their approved invoices.
Colin Levins CEO of Whitehall Finance, commented, “We are delighted to welcome our new investors who share our belief in the opportunity to make Supply Chain Finance and dynamic discounting a mass market product. Our product provides a new flexible source of finance for SMEs and also enables larger corporates, local authorities and educational institutions to pay their suppliers early and share in the benefit of providing this fully flexible service to their suppliers, thus creating a risk-free treasury alternative to placing surplus funds on deposit with banks or money market depositors.”
Simon Labahn, Fund Manager at The FSE Group, commented, “We are pleased to back Whitehall Finance in this funding round. In Colin and the Whitehall team they have a highly experienced founder and team who have previously scaled a business within this sector. We are excited about the market opportunity and the vision for the product moving forward. We wish them all the success for the future.”
TVB Growth Fund is part of Thames Valley Berkshire Funding Escalator, an £11.3m initiative funded by Thames Valley Berkshire LEP to support job creation and economic prosperity in Berkshire. The escalator, which also includes four separate loan schemes, provides eligible companies – from start-up to established – with loans and equity funding between £50,000 and £300,000 for activities that will deliver high-growth and employment opportunities.