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UK-based Forward Advances raises £2.2M to build fully customisable financing solution for entrepreneurs

Forward Advances, the revenue-based finance subsidiary of early stage venture fund Forward Partner, has just announced a raise of £2.2 million and the appointment of a new leadership team, to provide bespoke fundraising for entrepreneurs.

The business will now be led by Managing Director, former Paypal executive & entrepreneur Hasam Silva, alongside Investment Associate, Brendon Ferreira, who joins from Forward Partners.

The company aims to democratise and individualise the tradition of financial solution for entrepreneurs. The duo Hasam Silva and Brendon Ferreira raise the funds from Forward Partners, and are looking forward to helping the businesses with easy financing solutions instead of the traditional financing routes.

How revenue-based financing helps businesses?

Forward advances launched in April 2020, already offer revenue-based financing solutions to 30 clients to grow. The solution funds digital ads and inventory allowing businesses to grow, and customers then repay out of their future sales. The company charges a one off-fixed fee for the service. No late fees, securities or guarantees, which often come with traditional forms of financing.

The forward advance’s in-house studio team helps the business in defining growth marketing strategies, effective spending and deciding future term sheets & investment offers apart from funding.

Hasam Silva comments: “Access to funding is one of the biggest limitations of growth and expansion for small businesses. We offer an approach that negates the downsides of traditional funding routes and makes funding more accessible to founders. I’m proud to be leading a team that is helping to bring a more diverse and less transactional approach to funding.”

The forward advances step into providing better access to easy funding instead of downside of traditional methods such as VC, PE and crowdfunding.

The post UK-based Forward Advances raises £2.2M to build fully customisable financing solution for entrepreneurs appeared first on UKTN (UK Tech News).

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