Business lending platform Growth Street has raised a £7.5m scale-up investment round led by the Merian Chrysalis Investment Company Limited (Merian Chrysalis).
Asset manager Merian Global Investors has joined forces with leading individual investors including Rob Rankin, former co-Head of Corporate Banking & Securities at Deutsche Bank, and Peter Brodnicki, CEO of the Mortgage Advice Bureau, in backing Growth Street.
Existing Growth Street investors are also contributing to the round, including Christiaen van Lanschot, who serves as Growth Street’s chairman, Paolo Cuniberti, former CEO of Mediobanca UK, and Pi Capital CEO David Giampaolo. Growth Street was advised by Zeus Capital, who are also participating in the round.
Merian Chrysalis is advised by leading asset management firm Merian Global Investors, which has a total of £31.6bn under management. The funding round values Growth Street at £27.5m.
Commenting on the announcement, Growth Street co-founder and CEO Greg Carter said: “New regulations and technologies are driving rapid change within business lending. In a short period we have proven that ambitious businesses can thrive with GrowthLine. We are now working to expand access to GrowthLine and strike new relationships throughout the financial services ecosystem.
“I’m delighted Merian and leading investors share our view that business owners deserve better.”