Muse Finance, a finance provider for small, medium and growing businesses, announced that it has closed a $20 million debt facility “to support the growth of small businesses.”
The additional funds mean that Muse now “has access to over $96,000,000 USD (or £73,890,000 GBP), having previously raised £64 million for UK and European corporates from RiverRock and Prime 5 Finance Limited.” The new debt facility “comes ahead of Muse’s upcoming Series A round, which is planned for early 2023.”
The funding will be “used to further support its customers in the UK, providing them with best-in-class solutions for working capital.”
This includes “ensuring that more companies have access to their new business finance solution, which combines supply finance and invoice finance to help businesses pay overseas suppliers while unlocking cash tied up in their pending business invoices.”
The new facility also “paves the way for Muse to provide its innovative invoice and supply financing solutions to companies based in the USA.” Muse already “has nearly five thousand customers in the UK and has supplied finance for over 36,000 invoices.”
Ann Marie Juliano, founder and CEO of Muse, comments:
“We’re thrilled to announce that we’ve extended our debt facility at Muse, raising a further $20 million to support UK small business. Right now there’s unprecedented pressure on businesses across the globe, particularly when it comes to cash flow management. We’re specifically built to help businesses that need fast access to funds to continue to grow – and with this facility we’ll be able to do even more to ensure small, ambitious businesses have the access to working capital that they need.”
Founded by Ann Marie Juliano, Muse Finance “gives business owners up to a 90-day cash flow snapshot with quick access to finance.”
The App provides clients “with seamless access to sustainable funds faster than traditional lenders, alleviating financial headaches and giving certainty to business owners.”