Canadian firm continues support for UK tech startups
OKR Financial, a Canadian debt and equity financing provider, has invested in OnBuy, the UK’s leading online marketplace, as it continues its nationwide support of technology startups. OnBuy, which also received equity investment from OKR Financial during its seed round, is growing fast and is receiving venture debt financing to support its current equity round.
With vast experience in debt and equity financing in Canada, OKR Financial recently branched out to the UK with its launch of a £20M fund to support technology startups. The investment is a significant event for OKR Financial’s fund, securing in OnBuy a stable customer for the next six to seven years of the fund’s life.
“As OnBuy continues to grow, we are thrilled to have the support of OKR Financial,” said Cas Paton, Founder and CEO of OnBuy. “There are many other innovative startups like OnBuy in the UK that could greatly benefit from reaching out to OKR Financial, and we would definitely encourage them to do so.”
OnBuy has already helped bolster OKR Financial’s venture fund. The startup has grown its valuation six times since its seed round, boosting value for investors. By supporting debt in a £100M revenue company, the new investment from OKR Financial’s debt fund further proves the organisation’s ability to provide critical financial support to UK technology SMEs.
R Stewart Thompson, Managing Partner at OKR Financial said: “We’ve barely scratched the surface of what we can do with OnBuy. Looking at what it has accomplished in the last year and a half by growing the business by 10.5 times, I anticipate OnBuy growing even further and we’re lucky to participate in its journey.”
OKR Financial’s goal is to support other UK technology SMEs to help them grow and scale. The organisation is looking forward to continuing to play a significant role in the UK tech startup and scaleup ecosystem.
VP Business Development & Marketing
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OKR Financial UK
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About OKR Financial:
OKR Financial is a leading debt and equity financing provider. OKR Financial operates a family of private funds that provide non-dilutive financing solutions to SMEs secured against HMRC Tax Relief Programmes, Government Grants and Assets, providing the pathway to equity financing when companies are ready to scale up.