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 its 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, with a financing platform 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. 

“The structure of this deal allows for additional scale with senior funding in the years ahead and, critically, provides us with operating flexibility. We look forward to scaling up, in partnership with our new shareholders and funders Altum Capital.”

Already in June, there have been a number of important funding announcements made by globally dispersed organisations. Irish space-tech Ubotica has raised $11m for its AI-powered platform, in a round led by Act Venture Capital and Greencode Ventures, with participation from existing investor Atlantic Bridge.

Paris-based Tsuga, an AI-powered observability start-up, announced the raising of $35m in a Series A funding round led by existing investor Singular, with additional participation from General Catalyst, Picus, Databricks Ventures, and new investors DST Global Partners and Quantumlight.

Also, Chinese AI start-up DeepSeek recently raised more than $7bn, with reports stating that the round required investors to put their funds into a limited partnership managed by DeepSeek founder and CEO Liang Wenfeng rather than the company itself.

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