Eamonn McMahon. Image: Equipal
The funding will go towards the organisation’s growth plans, including its hiring operations in areas such as business development, marketing, operations, credit and data.
Equipal, a fintech funder of business equipment, has secured £16.25m in combined equity investment and forward flow funding from Altum Capital Management. The funds raised will go towards continuing Equipal’s growth strategy and growing the team to accommodate new roles in business development, marketing, operations, credit and data.
Soft launched in 2021 by former investment banker Eamonn McMahon and headquartered in London, Equipal is a tech-enabled funder of business equipment that develops its own technology and its financing platform is embedded at the point-of-sale. It is used by vendors in a range of industries, including manufacturing, agriculture and transport.
Commenting on the funding announcement, McMahon said, “I’m thrilled to get this deal over the line. While the market environment has been challenging, our operating resilience and discipline on credit, while keeping the customer front and centre, has helped us get here.
