Swoop, a London, UK-based AI platform that enables businesses to discover the right funding solutions across loans, equity, and grants, and to identify and easily make savings and cut costs - all in one fell swoop, raised £5.4 million in a Series A funding.
Backers included Velocity, Arab Bank Ventures, IAG, and WeHo Ventures in California.
The company intends to use the funds to accelerate international expansion, with a particular focus on North America, as well as to enhance its technology and proposition, aggregating banking, accounting, and credit data
Company: Swoop Finance Limited
Funding Month: June 2022
Lead Investors: Velocity, Arab Bank Ventures, IAG, and WeHo Ventures
Company Website: https://swoopfunding.com/
Software Category: Funding solutions
About the Company: Founded in 2017, Led by Andrea Reynolds, CEO, and Co-Founder, Swoop provides a software platform for businesses to investigate and access a wide range of funding sources, including equity, grants, loans, and tax credits. The company 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. Swoop is a partner to all the major banks in the UK and has partnerships with business bodies including the British Chambers of Commerce and the Institute of Chartered Accountants in England and Wales.