Swoop lands £5.4 million funding for international expansion

Swoop lands £5.4 million funding for international expansion

Source: Swoop

Swoop, the one-stop money shop for businesses, has raised £5.4m in a Series A funding round to accelerate international expansion and help more companies to access an array of financing options.

The funding announcement follows a surge in demand for SME financing, with revenues at Swoop forecasted to increase by 450% this year.

Andrea Reynolds, CEO and Co-Founder of Swoop, said the funding would be used to expand into new markets, with a particular focus on North America. The fast-growing fintech is targeting the US through its existing operations in Canada and this follows the recent establishment of an Australian operation, in addition to its offices in the UK and Ireland.

More than 75,000 businesses have used Swoop's software platform to investigate and access a wide range of funding sources, including equity, grants, loans and tax credits. Founded in 2017, Swoop will have 80 staff by the end of the summer, up from 60 at present.

The Series