“This fundraising shows high confidence in our performance to date and expectations for the future”, stated Julia Throop, managing director.

The fundraising was well supported by its existing shareholders, and saw the entry of new investors. In the last financial year PayBreak grew exponentially and the funds raised will be used to accelerate the further growth and development of the company.

Joost Schuijff, chairman, commented: “Consumer finance is a high growth market and our innovative finance products, resilient, highly scalable technology and operational expertise allow us to make considerable inroads into this market whilst upholding ethical, safe lending for our consumers.”