Fuel Ventures leads £1.5M seed round in Groov to transform SME focused lending

Fuel Ventures, a leading UK-based venture capital fund, has led a £1.5 million Seed funding round in Groov, a focused lending platform focused on bridging the $1.2 trillion funding gap facing small and medium-sized enterprises (SMEs). SMEs).

The Groov Embedded Lending 2.0 platform enables B2B SaaS providers to integrate lending solutions directly into their user experience, giving SMEs seamless access to cash when they need it.

The funding, which includes support from Aperture and industry-focused angel investors, will help Groov expand its product offering and increase its presence in key markets. This investment is in line with Fuel Ventures’ commitment to supporting transformative fintech companies that address critical business needs and drive new industry innovation.

Groov’s Groov-agnostic model connects SMEs with a variety of financing providers, ensuring flexible financing options with competitive terms and high approval rates. By integrating cash solutions directly into B2B SaaS platforms, Groov enables businesses to access the funds they need for inventory, marketing, invoicing, and more, without leaving their chosen platform.

Mark Pearson, Founder of Fuel Ventures, expressed his enthusiasm for the investment, saying, “When we spoke to Mark Hazzard and Rakesh Jena, we quickly realized that they were on to something special. Their bold approach to innovation in the SME space aligns with our commitment to supporting visionary fintech solutions. “

Groov CEO Mark Hazzard shared his excitement, commenting, “This investment from Fuel Ventures and our other investors is a strong validation of our mission to empower SMEs with capital on their terms. We are excited to expand our platform and bring our vision to life.”

With the support of Fuel Ventures, Groov is well-positioned to drive significant advances in SME financing, ultimately helping to bridge the funding gap and support business growth around the world.