Everline.com and ezbob.com have received a £30 million investment from funds managed by Oaktree Capital Management L.P. in the form of convertible debt.
This deal will provide additional capital to allow Everline.com and ezbob.com to refinance existing debt, accelerate its growth and provide loans to UK small businesses.
Tomer Guriel, CEO of Everline and ezbob, said: “I’m proud that Oaktree has chosen our company as their first business e-lending investment in Europe. This transaction represents an endorsement for our vision for Everline and ezbob. We look forward to partnering with Oaktree to continue developing and growing our business, we have already provided 6,000 loans to small and medium-sized enterprises and are growing in excess of 200% per annum.
“We believe this transaction will further accelerate our growth and enable us to support even more UK small businesses.”
Ezbob acquired Everline, a fellow small business lender, in February 2015. Since that time, the company has announced a partnership with Alibaba.com, as well as the first loan guarantee agreement in the U.K. with the European Investment Fund (EIF) under the EU programme for the Competitiveness of Enterprises and Small and Medium-sized Enterprises (COSME) to the value of £40 million.