Fuel Ventures, a leading UK venture capital fund, has led a £1.5 million seed funding round in Groov, a leader in embedded lending.
Supported by Aperture and a select group of industry-focused angel investors, this investment has aided Groov in its commitment to fostering transformative technology that addresses the needs of small- and medium-sized enterprises.
Groov’s mission is to bridge the US$1.2 trillion funding gap faced by SMEs worldwide by delivering capital that is accessible, flexible and available precisely when and where it’s needed. Through their innovative Embedded Lending 2.0 approach, Groov’s APIs empower B2B SaaS platforms to seamlessly integrate lending products directly into user journeys, whether it’s for purchasing stock, covering marketing expenses or managing sales invoicing.
A key innovation of Groov’s platform is its lender-agnostic approach, which opens access to a broad array of capital solutions for SMEs.