Outfund secured £37 million in debt and equity funding.

Outfund, a London, UK-based financial services provider, announced completing funding of a £37 million late seed round of capital.

The money is a combination of debt and equity. The process was led by Fuel Ventures and included participation from TMT Investments and Force Over Mass.

The company plans to make investments into new products, such as working capital and revolving credit, and team growth.

Outfund, founded by CEO Daniel Lipinski, is a revenue-based finacial provider, aiming to work with and help SMEs raise growth capital. The company can deploy between £10,000 and £2million of funding and is available to businesses that take online payments, have a minimum of £10,000 monthly turnover and have been trading for at least six months.