The cash injection will drive Liberis’ growth to help support an estimated 100,000 UK jobs by 2020.

The SME finance provider has built on its ongoing relationship with British Business Investments and entered into new financing facilities with the commercial arm of the British Business Bank and Paragon, as well as BCI Finance, with whom it has extended terms on its mezzanine line.

In addition, Liberis has also received incremental equity funding from digital venture builder Blenheim Chalcot.

This investment will enable Liberis to expand its product offering both in the UK and internationally.

Rob Straathof, CEO at Liberis (pictured above), said that small businesses were the lifeblood of the UK economy, yet many still struggled to get much-needed financial support from traditional providers.

“At Liberis, we’re on a mission to fund small businesses to help them achieve their ambitions.

“We’re incredibly proud to support hardworking business owners such as your local bakery to invest in a new oven, help the neighbourhood pub expand with a beer garden or enable incremental stock purchase for an online retailer.

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“We’re here to help the British high street thrive and remain independent.”

Liberis has helped over 7,000 small businesses, advanced £210m in funding and supported over 35,000 jobs in the UK to date.

Rob continued: “Liberis provides a flexible lifeline to small businesses [that] find it increasingly difficult to draw on bank overdrafts.

“Our innovative product has proven particularly popular with retail and hospitality businesses, where income fluctuates on a seasonal basis.”

Liberis has also entered into a new venture with Newable Business Finance, which provides business finance over two to five years to enable longer-term capital for its customers.

Catherine Lewis La Torre, CEO at British Business Investments, added: “A big part of our role is to increase the overall supply and diversity of finance – both product and provider – on offer to UK smaller businesses.

“We welcome Liberis’ innovative approach and look forward to more of our funding reaching companies through this alternative to traditional finance.”

Adam Daniels, managing director of structured lending at Paragon, added: “Small businesses are a key part of the UK economy and are vital to the country’s job creation and economic growth.

“We are thrilled to partner with Liberis, helping it achieve its mission to support UK small businesses.”