FINBOURNE receives debt facility from Kreos Capital
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FINBOURNE receives debt facility from Kreos Capital 31 January 2023UK Reporter: Lucy Carter
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FINBOURNE Technology (FINBOURNE) has secured a £30 million debt facility in partnership with debt provider Kreos Capital.
The facility will enable an enhanced value proposition, the company says. By strengthening FINBOURNE’s capital structure it will be able to grow beyond investment management and into banking and capital markets.
The announcement follows FINBOURNE’s Series A funding round in April 2021.
Thomas McHugh, CEO and co-founder of FINBOURNE, comments: “[Kreos Capital’s] support and experience in working with high-growth companies will be critical in our onward success. When we set out on our mission to deliver cost and operational efficiencies, we were clear we wanted to build a future where we support the financial services ecosystem to become change-ready.
“In six years, we have shown that we can help eliminate the risk associated with traditional operational transformation and at the same time address growing costs, so that firms can win back margins and productivity.”
Tim Fenwich, principal at Kreos Capital, says: “We are pleased to partner with FINBOURNE at this exciting time in its growth journey. Together with a strong balance sheet and pipeline, we are confident that our investment will further fuel FINBOURNE’s strategy and execution as it widens the net and delivers change-ready technology and data management tools.”
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