SME Lender EZBob secures £20m for tech expansion » SMEInsider

SME Lender EZBob secures £20m for tech expansion

EZBob, which has lent more than £100m in funding and loans to small businesses, has secured £20m of investment to increase its lending capacity and develop its technology platforms.

The lender, founded in 2012, secured the funding from Leumi Partners, the investment banking arm of Israel-based Bank Leumi, and existing investor Oaktree Capital Management.  The further investment will allow EZBob to develop its leading technology platform, enabling more of the UK’s 5.2m SMEs to instantly access the capital they need to fund their growth plans, anytime and anywhere.

According to Tomer Guriel, CEO and co-founder of EZBob Ltd., “Raising investment from a leading global bank in digitisation and an active investor within tech is proof of our game-changing technology and unique approach to business lending. This latest investment will further accelerate our growth plans and enable us to continue to develop our proprietary business lending platform to address more of the UK’s business lending needs.”

EZBob’s fully automated lending platform links directly to a business’s accounting services, tax reports and bank statements, speeding up the application process and meaning that loans of up to £120,000 can be approved and transferred within minutes.

EZBob recently announced the first loan guarantee agreement in the UK with the European Investment Fund, expanding the range of SMEs that EZBob can help secure finance.